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Home Depot Inc (HD) Shares Pop on Earnings Beat

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Home Depot Inc (NYSE: HD ) announced its quarterly earnings results early Tuesday morning.

Source: Wikimedia Commons For its fourth quarter, the home improvement company announced a profit of $1.8 billion, or $1.52 a share on a GAAP basis, topping the year-ago total of $1.7 billion, or $1.44 per share. On an adjusted basis, Home Depot earned $1.69 per share.

The company's expenses during the quarter included bonus payments and impacts that were spawned from the new U.S. tax code. Analysts were calling for adjusted earnings of $1.61 per share, according to data compiled by Thomson Reuters .

On the revenue front, Home Depot raked in $23.9 billion, marking a 7.5% improvement compared to the year-ago quarter. Analysts were projecting net revenue of $23.7 billion for the three-month period to finish fiscal 2017, per Thomson Reuters.

The company saw its same-store sales rise by 7.5%, beating the 6% gain that analysts polled by Thomson Reuters were calling for. The average customer transactions at Home Depot rose 2%, while the average ticket rose by 5.5% in price to $64 per person.

"Our ongoing commitment to enhance the interconnected retail experience for our customers, provide localized and innovative product, and deliver best in class productivity resulted in record sales and net earnings for 2017," Home Depot CEO and Chairman Craig Menear said in a statement.

The company also announced on Tuesday that it was raising its quarterly dividend for the ninth consecutive year by 15.7% to $1.03 per share.

HD stock gained 1.2% Tuesday morning.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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