Categories AlphaGraphs, Earnings, LATEST, Retail

Home Depot beats Q2 expectations and raises outlook

The Home Depot Inc. (HD) beat market estimates on both revenues and earnings for the second quarter of 2018. The home improvement retailer reported sales of $30.5 billion, up 8.4% from the same period last year. Comparable sales were up 8% while comparable sales in the US were up 8.1%.

Net income was $3.5 billion or $3.05 per diluted share compared to $2.7 billion or $2.25 per diluted share in the prior-year period, reflecting a growth of 35.6% in diluted EPS.

Home Depot updated its guidance for the full year of 2018. The company now expects sales to increase around 7% including the 53rd week, and comp sales to grow around 5.3% for the comparable 52-week period. Home Depot also anticipates diluted EPS to grow approx. 29.2% from fiscal year 2017 to $9.42.

Home Depot second quarter 2018 earnings
Home Depot Q2 2018 Earnings Infographic

At the end of Q2 2018, Home Depot operated a total of 2,286 retail stores in all 50 states, the District of Columbia, Puerto Rico, US Virgin Islands, Guam, 10 Canadian provinces and Mexico.

During Q2, customer transactions increased 3.1% while average ticket saw a growth of 5%. Sales per square foot improved 8.6%. The strength in sales was driven by good weather conditions along with favorable trends in both the housing market and the general economic environment.

Shares rose over 2% in premarket trading following the results announcement.

Related: Home Depot Q2 2018 Earnings Transcript

Related: Home Depot Earnings Preview 

Related: Home Depot Q1 2018 Earnings Infographic

Home Depot first quarter 2018 earnings

Most Popular

Tyson Foods (TSN) Q1 2023 Earnings: Key financials and quarterly highlights

Tyson Foods Inc. (NYSE: TSN) reported first quarter 2023 earnings results today. Sales rose 2.5% year-over-year to $13.2 billion. Net income attributable to Tyson was $316 million, or $0.88 per

After weak start to 2023, Apple (AAPL) sees some bright spots

Apple Inc. (NASDAQ: AAPL) this week reported its first revenue decline in more than three years, even as the high inflation continues to squeeze customers’ spending power. Sales of the

Earnings: Qualcomm (QCOM) Q1 profit falls on lower revenues

Chipmaker Qualcomm, Inc. (NASDAQ: QCOM) has reported lower earnings and revenues for the first quarter of 2023. The company also provided guidance for the second quarter of 2023. At $9.5

Tags

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top