Home Depot: higher profit despite severe winter weather

(CercleFinance.com) - Home Depot posted higher quarterly profit despite unfavourable weather in February and significant deflation in lumber prices.


Net earnings for the first quarter ended 5 May reached 2.5 billion dollars, or 2.27 dollars per share, compared with net earnings of 2.4 billion dollars, or 2.08 dollars per share, in the same period of fiscal 2018, the retailer said on Tuesday.

In comparison, analysts were on average looking for EPS of 2.19 dollars.

The US home improvement retailer posted sales of 26.4 billion dollars for the past quarter, up 5.7% year-on-year, with comparable sales growing 2.5%.

In the US, comparable sales were up 3%, it added.

Looking ahead, the company reaffirmed its guidance for fiscal 2019, expecting full-year sales to grow by approximately 3.3% and comparable sales up 5%.

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