The Home Depot, Inc. (HD - Free Report) , the world’s largest home improvement specialty retailer reported third-quarter fiscal 2017 earnings of $1.84 a share, ahead of the Zacks Consensus Estimate of $1.81. Also, quarterly earnings jumped 15% year over year.
Earnings Estimate Revision: The Zacks Consensus Estimate for fiscal 2017 has witnessed an uptrend in the last seven days. Home Depot’s performance in the trailing four quarters (excluding the quarter under review) gives a positive picture, with an average surprise of 3.8%.
Revenues: Total revenue increased 8.1% year over year to $25,026 million, and also surpassed the Zacks Consensus Estimate of $24,523 million. Comparable-store sales (comps) in the quarter rose 7.9%, while U.S. comps increased 7.7%.
Guidance: Home Depot raised its fiscal 2017 sales and earnings outlook on the back of solid year-to-date results. The company now expects sales growth of nearly 6.3%, alongside a 6.5% increase in comps. Earlier, the company expected net sales to grow 5.3% and comps for fiscal 2017 to increase 5.5%. Further, management now anticipates diluted earnings per share to increase about 14% to $7.36 in fiscal 2017, compared with the previous guidance of 13% growth to $7.29. The guidance includes $8 billion impact from share repurchases.
Zacks Rank: Currently, Home Depot carries a Zacks Rank #2 (Buy), which is subject to change following the earnings announcement. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Stock Movement: Home Depot’s shares rose 2.2% during pre-market trading hours following the earnings release.
Check back later for our full write up on Home Depot’s earnings report!
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The Home Depot, Inc. (HD - Free Report) , the world’s largest home improvement specialty retailer reported third-quarter fiscal 2017 earnings of $1.84 a share, ahead of the Zacks Consensus Estimate of $1.81. Also, quarterly earnings jumped 15% year over year.
Earnings Estimate Revision: The Zacks Consensus Estimate for fiscal 2017 has witnessed an uptrend in the last seven days. Home Depot’s performance in the trailing four quarters (excluding the quarter under review) gives a positive picture, with an average surprise of 3.8%.
Revenues: Total revenue increased 8.1% year over year to $25,026 million, and also surpassed the Zacks Consensus Estimate of $24,523 million. Comparable-store sales (comps) in the quarter rose 7.9%, while U.S. comps increased 7.7%.
Guidance: Home Depot raised its fiscal 2017 sales and earnings outlook on the back of solid year-to-date results. The company now expects sales growth of nearly 6.3%, alongside a 6.5% increase in comps. Earlier, the company expected net sales to grow 5.3% and comps for fiscal 2017 to increase 5.5%. Further, management now anticipates diluted earnings per share to increase about 14% to $7.36 in fiscal 2017, compared with the previous guidance of 13% growth to $7.29. The guidance includes $8 billion impact from share repurchases.
Zacks Rank: Currently, Home Depot carries a Zacks Rank #2 (Buy), which is subject to change following the earnings announcement. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Stock Movement: Home Depot’s shares rose 2.2% during pre-market trading hours following the earnings release.
Check back later for our full write up on Home Depot’s earnings report!
Today's Stocks from Zacks' Hottest Strategies
It's hard to believe, even for us at Zacks. But while the market gained +18.8% from 2016 - Q1 2017, our top stock-picking screens have returned +157.0%, +128.0%, +97.8%, +94.7%, and +90.2% respectively.
And this outperformance has not just been a recent phenomenon. Over the years it has been remarkably consistent. From 2000 - Q1 2017, the composite yearly average gain for these strategies has beaten the market more than 11X over. Maybe even more remarkable is the fact that we're willing to share their latest stocks with you without cost or obligation.
See Them Free>>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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