Home Depot (HD) Tops Q3 EPS by 3c; Raises Outlook
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Home Depot (NYSE: HD) reported Q3 EPS of $1.84, $0.03 better than the analyst estimate of $1.81. Revenue for the quarter came in at $25 billion versus the consensus estimate of $24.46 billion. Comparable store sales for the third quarter of fiscal 2017 were positive 7.9 percent, and comp sales for U.S. stores were positive 7.7 percent.
"Though this quarter was marked by an unprecedented number of natural disasters, including multiple hurricanes, wildfires in the West, and earthquakes in Mexico, the underlying health of our core business remains solid," said Craig Menear, chairman, CEO and president. "I am proud of our team and suppliers for their extraordinary efforts to support those in the path of the various natural disasters throughout the quarter. Our support of the impacted communities continues.
Based on its year-to-date performance, underlying strength of the core business, and projected hurricane recovery sales, the Company lifted its fiscal 2017 sales growth guidance and now expects sales will be up approximately 6.3 percent and comp sales will be up approximately 6.5 percent. The Company also raised its diluted earnings-per-share growth guidance for the year and now expects diluted earnings-per-share growth of approximately 14.0 percent from fiscal 2016 to $7.36 (*** consensus is $7.34). The Company's diluted earnings-per-share growth guidance includes the impact of $8 billion of share repurchases for fiscal 2017.
For earnings history and earnings-related data on Home Depot (HD) click here.
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