(Updated - February 28, 2018 8:38 AM EST)

TJX Cos. (NYSE: TJX) reported Q4 EPS of $1.19, may not compare to analyst estimate of $1.27. Revenue for the quarter came in at $11 billion versus the consensus estimate of $10.76 billion.

Q4 adjusted diluted EPS of $1.19, which excludes a $.17 net benefit due to items related to the 2017 Tax Act (described below), a benefit of approximately $.11 from the extra week in the Company’s Fiscal 2018 fourth quarter, and a $.10 impairment charge related to Sierra Trading Post (described below), compared with $1.03 in Q4 of the prior year

GUIDANCE:

For the 52-week fiscal year ending February 2, 2019, the Company expects diluted earnings per share to be in the range of $4.73 to $4.83, which represents a 17% to 20% increase over the prior year’s $4.04. The Company’s full-year guidance includes an expected benefit of approximately $.73 to $.75 per share due to items related to the 2017 Tax Act (primarily the lower U.S. corporate income tax rate). Excluding this benefit, the Company expects adjusted diluted earnings per share to be in the range of $4.00 to $4.08. This would represent a 4% to 6% increase over the prior year’s adjusted $3.85, which excludes the items described above. This guidance reflects an assumption that wage increases will negatively impact EPS growth by 2%. This EPS outlook is based upon estimated consolidated comparable store sales growth of 1% to 2%.

For the first quarter of Fiscal 2019, the Company expects diluted earnings per share to be in the range of $1.00 to $1.02, compared to $.82 last year. Excluding an expected benefit of approximately $.15 to $.16 per share due to the 2017 Tax Act (primarily the lower U.S. corporate income tax rate), the Company expects adjusted earnings per share to be in the range of $.85 to $.87. This guidance reflects an assumption that wage increases will negatively impact EPS growth by 2%. This EPS outlook is based upon estimated consolidated comparable store sales growth of 1% to 2%.

The Company’s earnings guidance for the full year and first quarter of Fiscal 2019 assumes that currency exchange rates will remain unchanged from the levels at the beginning of the first quarter.

(Street sees Q1 EPS of $0.99 and FY EPS of $4.62)

• Planning to repatriate more than $1 billion in cash from its TJX Canada division in Fiscal 2019

Shareholder Distributions

The Company intends to increase the regular quarterly dividend on its common stock to be declared in April 2018 and payable in June 2018 to $.39 per share, subject to the approval of the Company’s Board of Directors. This increase would represent a 25% increase in the current per share dividend and mark the 22nd consecutive year that the Company has raised the dividend. Over this period of time, the Company’s dividend has grown at a compound annual rate of 23%.

The Company also announced today its plan to repurchase approximately $2.5 to $3.0 billion of TJX stock during the fiscal year ending February 2, 2019. With $1.1 billion remaining at Fiscal 2018 year end under the Company’s stock repurchase programs, the Company’s Board of Directors approved a new stock repurchase program that authorizes the repurchase of up to an additional $3.0 billion of TJX common stock from time to time. The new authorization represents approximately 6% of the Company’s outstanding shares at current prices. The new stock repurchase program marks the 19th program approved by the Board since 1997. Over this period, the Company has spent approximately $19.6 billion on the repurchase of TJX stock. During the fourth quarter, the Company spent a total of $405 million to repurchase TJX stock, retiring 5.4 million shares. In Fiscal 2018, the Company spent a total of $1.7 billion to repurchase TJX stock, retiring 22.3 million shares. Under the Company’s repurchase plans, share repurchases may be made from time to time in market or private transactions and may include derivative transactions. The repurchase program announced today has no time limit and may be suspended or discontinued at any time.

For earnings history and earnings-related data on TJX Cos. (TJX) click here.