X

HD Supply Q2 results top expectations

HD Supply Holdings Inc. (HDS) beat market estimates on revenues and earnings for the second quarter of 2018, sending the stock climbing over 3% during pre-market hours. Net sales rose 18.3% to $1.6 billion from the same period last year while organic sales grew 10.1%.

Net income dropped to $131 million or $0.71 per share during the quarter from $442 million or $2.22 per share in the same period last year. Adjusted net income was $182 million or $0.99 per share.

HD Supply Q2 2018 Earnings Infographic

The company posted sales increases for both its business segments in the quarter. Monthly net sales for May, June, and July amounted to $488 million, $486 million and $626 million, respectively. Preliminary net sales in August were around $513 million, reflecting average daily sales growth of approximately 17.7% on a year-over-year basis.

For the third quarter of 2018, HD Supply expects net sales of $1.56 billion to $1.61 billion, which translates to a growth of around 16% at the midpoint of the range. Adjusted EPS is expected to be $0.95 to $1.00 for the quarter.

For the full year of 2018, net sales are expected to come in between $5.9 billion to $6 billion and adjusted EPS is supposed to be $3.22 to $3.35.

Related Post