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Home Depot announces fourth-quarter 2018 earnings

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.

As of December 2018

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.

Home Depot fourth quarter 2018 Earnings Infographic

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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