Were Home Depot’s Solid Q1 Results Good Enough?
Home Depot released better than expected fiscal first-quarter financial results before the markets opened on Tuesday.
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Home Depot Inc. (NYSE: HD | HD Price Prediction) released its fiscal first-quarter financial results before the markets opened on Tuesday. The home improvement retailer said that it had $2.27 in earnings per share (EPS) and $26.4 billion in revenue, while the consensus estimates had called for $2.19 in EPS and revenue of $26.39 billion. In the same period of last year, the big-box retailer said it had EPS of $2.08 and $24.95 billion in revenue.
During the latest quarter, comparable sales grew 2.5%, with comparable sales in the United States increasing 3.0%. The difference between the company’s sales growth and comparable sales performance reflects a shift in the calendar base due to 53 weeks of sales in fiscal 2018.
Looking ahead to the fiscal 2019 full year, the company expects to see EPS growth of 3.1% and revenues up by 3.3%, with comparable sales increasing 5.0%. Consensus estimates are calling for $3.11 in EPS and $31.09 billion in revenue for the year.
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Craig Menear, board chair, chief executive and president, commented:
Looking ahead, we remain excited about the momentum we are seeing with our strategic investments. As a result of these initiatives, and the current macroeconomic and housing backdrop, today we are reaffirming our sales and earnings guidance for fiscal 2019. I would like to thank our associates for their hard work and continued dedication to our customers.
Shares of Home Depot were down about 1% to $188.67 early Tuesday, in a 52-week range of $158.09 to $215.43. The consensus price target is $205.86.
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Chris Lange is a financial and geopolitical writer with more than a decade of experience covering a myriad of topics. He has published thousands of articles for 24/7 Wall St., with past coverage focused heavily on stocks, IPOs, healthcare, defense, global affairs, and technology.
His work has been quoted, or referenced by a number of outlets including Business Insider, USA Today, Yahoo Finance, MSN, The Motley Fool, and many other publications. A graduate of Southwestern University, he studied business with a focus on investments and has previous experience in banking and startups.
When not reading or writing the news, he is following his passion for Lacrosse, playing chess, or building solar projects with his dad.
