Atlanta, Georgia-based home improvement retailer The Home Depot Inc (HD) posted its fourth-quarter 2018 results on Feb. 26, before the opening bell.
Sales jumped 10.9% to $26.5 billion in the three-month period, while comp sales grew 3.2%. US comp sales rose by 3.7%.
Net earnings grew 31.8% to $2.34 billion. Diluted earnings jumped 37.5% to $2.09 a share.
Net earnings were hit by a pre-tax charge of about $247 million due to impairment losses regarding certain trade names at Interline Brands.
Analysts expected earnings of $2.16 a share on revenue of about $26.5 billion in the quarter.
LOOKING TO FISCAL 2019
Home Depot expects comp sales growth of about 5% for fiscal 2019, with sales growth of about 3.3%.
Five new stores are expected to open in the year, with gross margin of about 34%.
Earnings is expected to grow 3.1% to about $10.03 per diluted share.
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