Home Depot Sales Increase Faster Than Expected -- Earnings Review
February 20 2018 - 5:53AM
Dow Jones News
By Cara Lombardo
Home Depot, Inc. (HD) reported its fourth-quarter earnings
Tuesday. Here's what you need to know:
EARNINGS: The home-improvement chain reported net income of
$1.78 billion, or $1.52 a share. The impact of the new tax law and
one-time bonuses to hourly employees negatively impacted
fourth-quarter earnings per share by 17 cents. On an adjusted
basis, Home Depot earned $1.69 a share, which is more than the
$1.61 a share expected.
REVENUE: Revenue rose 7.5% to $23.9 billion, more than the $23.7
billion analysts polled by Thomson Reuters had expected. Comparable
sales rose 7.5%, while analysts polled by Consensus Metrix had
expected 6.5%.
TAX CHARGE: The company's quarterly results included a $127
million charge related to the U.S. tax law overhaul.
GUIDANCE: The company guides sales growth of 6.5% in 2018 and
comparable store sales growth of 5%.
Write to Cara Lombardo at cara.lombardo@wsj.com
(END) Dow Jones Newswires
February 20, 2018 06:38 ET (11:38 GMT)
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