Home Depot (HD) Tops Q3 EPS by 2c; Reaffirms Outlook
Home Depot (NYSE: HD) reported Q3 EPS of $1.15, $0.02 better than the analyst estimate of $1.13. Revenue for the quarter came in at $20.52 billion versus the consensus estimate of $20.47 billion.
Comparable store sales for the third quarter of fiscal 2014 were positive 5.2 percent, and comp sales for U.S. stores were positive 5.8 percent.
Reaffirmed Fiscal 2014 Guidance
The Company confirmed that it expects fiscal 2014 sales growth of approximately 4.8 percent. The Company also confirmed that it expects fiscal 2014 diluted earnings per share to grow by 21 percent to approximately $4.54. This earnings-per-share guidance includes the benefit of the Company's year-to-date share repurchases of $5.74 billion and the Company's intent to repurchase an additional $1.26 billion of shares in the fourth quarter. The earnings-per-share guidance also includes an estimate of net breach-related costs of approximately $34 million for the year.
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