Home Depot was able to beat estimates for the third quarter of FY13. The company also raised guidance on the basis of better operating performance and share buyback activity.
Home Depot is up nearly 2% today after beating analysts’ estimates and raising guidance. However, the company faces the risk of a housing slowdown and will not be able to sustain high single digit growth in same store sales as mortgage rates rise.
Home Depot is up nearly 2% today after beating analysts’ estimates and raising guidance. However, the company faces the risk of a housing slowdown and will not be able to sustain high single digit growth in same store sales as mortgage rates rise.
Earnings Review
Home Depot’s quarterly results for 3QFY13 beat analysts’ estimates for revenues and adjusted EPS by 1.5% and 5.8% respectively.
The company announced an EPS of $0.95 for the quarter vs. estimates of $0.89. Growth in company’s comparable store sales (comps) and share repurchases both contributed towards driving up the company’s EPS. Its comps were up 7.4% with a major contribution from 8.2% growth in comps from US stores. The company repurchased $1.69bn worth of stock (1.5% of the company’s total market cap) during the quarter.
The company announced an EPS of $0.95 for the quarter vs. estimates of $0.89. Growth in company’s comparable store sales (comps) and share repurchases both contributed towards driving up the company’s EPS. Its comps were up 7.4% with a major contribution from 8.2% growth in comps from US stores. The company repurchased $1.69bn worth of stock (1.5% of the company’s total market cap) during the quarter.
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