(RTTNews.com) – The Home Depot ( HDHome Depot Inc. HD133.13 +2.21 (1.66%)Earnings Reaction History: The Home Depot, Inc., 27.3% Follow-Through Indicator, 1.5% SensitiveLongs Eke Out Modest Historical Advantage Trading Home Depot off Pre-Bell EarningsRetail Stocks to Watch for Earnings: HD, WMT, TGT, GPSPowered by Market IQ ), the world’s largest home improvement retailer, reported net earnings for the first quarter of fiscal 2016 of $1.8 billion, or $1.44 per share, compared to $1.6 billion, or $1.21 per share, in the same period of fiscal 2015. For the first quarter of fiscal 2016, earnings per share increased 19.0 percent from the same period in the prior year. On average, 24 analysts polled by Thomson Reuters expected the company to report profit per share of $1.36 for the quarter. Analysts’ estimates typically exclude special items.
The Home Depot reported sales of $22.76 billion for the first quarter of fiscal 2016, a 9.0 percent increase from the first quarter of fiscal 2015. Comparable store sales for the first quarter of fiscal 2016 were positive 6.5 percent, and comp sales for U.S. stores were positive 7.4 percent. Analysts expected revenue of $22.39 billion for the quarter.
The Home Depot raised its fiscal 2016 sales guidance and now expects sales will be up approximately 6.3 percent and comp sales will be up approximately 4.9 percent. The company also raised its earnings-per-share guidance for the year and now expects earnings per share to grow approximately 14.8 percent from fiscal 2015 to $6.27. In February, the company projected: sales growth of approximately 5.1 to 6.0 percent; comparable store sales growth of approximately 3.7 to 4.5 percent; and earnings-per-share growth after anticipated share repurchases of approximately 12 percent to 13 percent, or $6.12 to $6.18. Analysts expect the company to report fiscal 2016 profit per share of $6.23.makeAd(‘4′,’300×250′,’mktsnews’,’article’,”,”);
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