Home Depot Q2 Results Beat Estimates, Lifts FY14 Earnings View
The average of 25 analysts’ estimatescompiled by Bloomberg was $1.44. STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more. Second quarter revenue was up 5.7%t to $23.8 billion, beating analysts’ average estimate of $23.6 billion, helped by improved weather and rising home prices that are spurring consumers to spend on renovations, Bloomberg noted. Home Depot said profit this year will be $4.52 a share, including the benefit of share repurchases; the company had forecast $4.42.
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Home Depot Rises As Growth In EPS, Revenue Speed Up – Yahoo Finance
Operating profit during the quarter improved 14.2% to $3,448 million from $3,018 million in the year-ago comparable quarter. Operating margin expanded 110 basis points (bps) to 14.5% from 13.4% in the year-ago quarter. The improvement in operating margin was driven by effective cost management. Balance Sheet and Cash Flow Home Depot, which competes with Lowes Companies Inc.
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Home Depot Beats Q2 Earnings on Strong Spring Season Sales – Yahoo Finance
Further, the company lifted its earnings view for fiscal 2014, and backed sales growth forecast. In pre-market activity, Home Depot shares are gaining $2.72 or 3.25 percent, and trading at $86.31. For the second quarter, net earnings were $2.05 billion, 14.2 percent higher than last year’s $1.80 billion. Earnings per share climbed 22.6 percent to $1.52 from $1.24 a year ago.
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Comparable-store sales growth for services was over twice the company average, with the average ticket at $1,500. Home Depot now expects full-year earnings to increase 20% to $4.52, a 10-cent boost from its prior forecast. Analysts had seen fiscal-year earnings at $4.41. But Katz noted most of the guidance lift comes from Q2’s outperformance and the company’s plans to increase its anticipated share repurchases to $7 billion from $5 billion. The company backed its full-year sales growth expectation at 4.8%, above the 4.7% consensus.
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