Tuesday, August 20, 2019Three retailers help bring Q2 earnings season to a close this summer, with mixed results across the board. Earnings reports are all we have to go by so far this week, with Existing Homes Sales, Weekly Jobless Claims and a Jackson Hole Symposium on deck through the remainder of the week.
Home Depot’s (HD - Free Report) Q2 results were mixed: $3.17 per share beat the Zacks consensus by 9 cents (and ahead of the $3.05 reported in the year-ago quarter), while quarterly sales of $30.84 billion fell short of the $30.95 billion estimate (though up 1.2% year over year). Lumber prices reportedly decreased comps, and the company warned of consumer weakness should more tariffs be placed on imported goods.
The home improvement giant, with a Zacks Rank of #3 (Hold) ahead of the earnings release, reported a rise in gross profit, it also saw a 20 basis-point drop in gross margins for the quarter. Home Depot also cut its full-year forecast, though shares are up 2.25% in today’s pre-market. For more on HD’s earnings, click here.
Department store chain Kohl’s (KSS - Free Report) also beat on the bottom line while missing by a smidge on the top: $1.55 per share outperformed by 3 cents, while $4.43 billion in sales was short by 0.57%, as well as under the $4.57 billion from the year-ago quarter. Shares have now beaten earnings estimates in 3 of the last 4 quarters, though the stock is still down double-digits year to date. For more on KSS’ earnings, click here.
The TJX Companies (TJX - Free Report) , a national discount retailer, just met earnings expectations of 62 cents per share in its Q2 report, with $9.78 billion in revenues down 1% from the Zacks consensus. This top line figure was, however, notably better than the $9.33 billion in the year-ago quarter. Shares are up 3% in today’s pre-market, and the stock is mostly tracking the S&P 500 year to date. For more on TJX’s earnings, click here.
Mark Vickery
Senior Editor
Questions or comments about this article and/or its author? Click here>>
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Tuesday, August 20, 2019
Three retailers help bring Q2 earnings season to a close this summer, with mixed results across the board. Earnings reports are all we have to go by so far this week, with Existing Homes Sales, Weekly Jobless Claims and a Jackson Hole Symposium on deck through the remainder of the week.
Home Depot’s (HD - Free Report) Q2 results were mixed: $3.17 per share beat the Zacks consensus by 9 cents (and ahead of the $3.05 reported in the year-ago quarter), while quarterly sales of $30.84 billion fell short of the $30.95 billion estimate (though up 1.2% year over year). Lumber prices reportedly decreased comps, and the company warned of consumer weakness should more tariffs be placed on imported goods.
The home improvement giant, with a Zacks Rank of #3 (Hold) ahead of the earnings release, reported a rise in gross profit, it also saw a 20 basis-point drop in gross margins for the quarter. Home Depot also cut its full-year forecast, though shares are up 2.25% in today’s pre-market. For more on HD’s earnings, click here.
Department store chain Kohl’s (KSS - Free Report) also beat on the bottom line while missing by a smidge on the top: $1.55 per share outperformed by 3 cents, while $4.43 billion in sales was short by 0.57%, as well as under the $4.57 billion from the year-ago quarter. Shares have now beaten earnings estimates in 3 of the last 4 quarters, though the stock is still down double-digits year to date. For more on KSS’ earnings, click here.
The TJX Companies (TJX - Free Report) , a national discount retailer, just met earnings expectations of 62 cents per share in its Q2 report, with $9.78 billion in revenues down 1% from the Zacks consensus. This top line figure was, however, notably better than the $9.33 billion in the year-ago quarter. Shares are up 3% in today’s pre-market, and the stock is mostly tracking the S&P 500 year to date. For more on TJX’s earnings, click here.
Mark Vickery
Senior Editor
Questions or comments about this article and/or its author? Click here>>
Legalizing THIS Could Be Even Bigger than Marijuana
Americans spend an estimated $150 billion in this industry every year… more than twice as much as they spend on marijuana.
Now that 8 states have fully-legalized it (with several more states following close behind), Zacks has identified 5 stocks that could soar in response to the powerful demand. One industry insider described the future as “mind-blowing” – and early investors can still get in ahead of the surge.
See these 5 “sin stocks” now >>
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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