| From: JakeStraw | 11/13/2018 8:47:33 AM | | | | | | Home Depot on Tuesday reported quarterly earnings that beat analysts' expectations and raised its sales outlook for the full year, showing little sign of slowing down despite concerns about softening sales of existing home.
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Here's what Home Depot reported compared with what Wall Street was expecting, based on a survey of analysts by Refinitiv:
Earnings per share: $2.51 vs. $2.26 expected
Revenue: $26.30 billion vs. $26.26 billion expected
Same-store sales: up 4.8 percent globally vs. growth of 4.7 percent expected
Home Depot CEO Craig Menear said Tuesday there is continued "overall strength of demand in the home improvement market," prompting the company to hike its outlook for fiscal 2018.
Looking to the full year, Home Depot now expects sales to grow roughly 7.2 percent, up from a previous outlook of just 7 percent. It says same-store sales should be up 5.5 percent, up from 5.3 percent. |
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| From: JakeStraw | 3/20/2019 9:04:37 AM | | | | | | Evercore initiating Home Depot as ‘outperform’
Evercore initiated coverage on Home Depot saying that, among other things, the stock is attractive and competition is shuttering.
“Compounder status intact... Fear Creates Opportunity... Cyclical pressures aside, we think Home Depot’s stock is attractive as the fears of the peak of the housing cycle and tough 1H compares appear to be in the stock at 16.7x our 2020 EPS estimate... The key positives are digital pushing 8% of sales, Pro at almost a majority of sales, pricing power if tariffs escalate, and competitors such as Sears going away while Lowe’s is shuttering capacity....Our Base Case of $215 is 19.5x our 2020e or $11.00... ”
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| From: JakeStraw | 5/21/2019 8:01:34 AM | | | | | | Home Depot earnings beat, same-store sales fall short
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Here’s how the company did, compared to what Wall Street expected, according to Refinitiv consensus estimates:
Earnings per share: $2.27, vs. $2.18 expected
Revenue: $26.381 billion, vs. $26.378 expected
Sales at stores open at least 12 months rose 2.5% on a global basis and were up 3.0% in the U.S. This was shy of the 4.2% estimate from Refinitiv, but it wasn’t immediately clear if the numbers were comparable due to an extra week in the year-ago quarter.
In the quarter ended May 5, net income rose to $2.5 billion, or $2.27 a share, from $2.4 billion, or $2.08 a diluted share, a year ago. Analysts were predicting the company would earn $2.18 a share.
Revenue climbed 5.7% to $26.381 billion, slightly above Refinitiv’s consensus estimate of $26.378 billion.
“We were pleased with the underlying performance of the core business despite unfavorable weather in February and significant deflation in lumber prices compared to a year ago,” Home Depot CEO and president Craig Menear said in a company release.
Home Depot said customer transactions were up 3.8% during the quarter, while the average shopper’s ticket increased 2.0%, and sales per square foot were up 5.6%.
The company reaffirmed its guidance for fiscal 2019, which estimates earnings will rise 3.1% to $10.03 per share. Same-store sales are expected to grow 5%, while revenue increases 3.3%. |
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| From: JakeStraw | 6/25/2019 8:33:39 AM | | | | | | Home Depot CEO says company hopes to cut costs to reduce impact of tariffs on consumer prices
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The company makes 70% of its goods domestically, which also lessens the effect.
Demand has picked up with the improving summer weather. |
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