The Home Depot, Inc. (HD - Free Report) , the world’s largest home improvement specialty retailer reported first-quarter fiscal 2018 adjusted earnings of $2.08 per share that came ahead of the Zacks Consensus Estimate of $2.06. Also, quarterly earnings jumped 24.6% year over year.
Earnings Estimate Revision: The Zacks Consensus Estimate for fiscal 2018 has witnessed a downtrend in the last 30 days. However, Home Depot’s performance in the trailing four quarters (excluding the quarter under review) gives a positive picture, with an average earnings surprise of 2.9%.
Revenues: Total revenue increased 4.4% year over year to $24,947 million but missed the Zacks Consensus Estimate of $25,202 million. Comparable-store sales (comps) in the quarter rose 4.2%, while U.S. comps increased 3.9%.
Guidance: Home Depot expects sales growth of nearly 6.7%, alongside a 5% increase in comps. Further, management continues to anticipate earnings per share to increase about 28% to $9.31 in fiscal 2018.
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.
Check back later for our full write up on Home Depot’s earnings report!
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