The Home Depot, Inc. (HD - Free Report) , the world’s largest home improvement specialty retailer reported third-quarter fiscal 2016 earnings of $1.60 a share that outperformed the Zacks Consensus Estimate of $1.58. Also, quarterly earnings rose from $1.35 delivered in the year-ago quarter.
Earnings Estimate Revision: The Zacks Consensus Estimate for 2016 has been stable over the last 30 days. Home Depot’s performance in the trailing four quarters (excluding the quarter under review) gives a positive picture, with an average surprise of 4.2%.
Revenues: Owing to rise in both ticket and transaction sales, total revenue increased 6.1% year over year to $23,154 million and also surpassed of the Zacks Consensus Estimate of $23,036 million. Comparable-store sales (comps) for third-quarter fiscal 2016 rose 5.5%, while U.S. comps increased 5.9%.
Guidance: Home Depot repeated its 2016 sales guidance. The company expects net sales and comps for 2016 to increase 6.3% and 4.9%, respectively. Further, it elevated its fiscal 2016 diluted earnings per share and projects it to rise nearly 15.9% from $6.33 delivered in fiscal 2015.
Zacks Rank: Currently, Home Depot carries a Zacks Rank #4 (Sell) 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 are up nearly 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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