Home Depot Profit: HD Stock Hit 5% of Q3 Revenue Miss

Home Depot Profit: HD Stock Hit 5% of Q3 Revenue Miss

<p>Home Depot (NYSE: HD) revenues for the home improvement seller in the third quarter of 2019 have HD shares hitting on Tuesday. The company reported a diluted earnings per share of $ 2.53, which is above the Wall Street estimate of $ 2.52. Unfortunately for HD, earnings of $ 27.22 billion are lower than analysts’ estimates of $ 27.53 billion.

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Now for a closer look at the latest income report for Home Depot.

EPS is close to 1% compared to $ 2.51 reported in the third quarter of 2018. Revenue is 3.50% better than $ 26.30 billion over the same period last year. Operating profit of $ 3.95 billion is 2.07% higher than $ 3.87 billion. Home Depot’s earnings report also includes net income of $ 2.77 billion. That’s a 3.48% decline from the company’s net profit of $ 2.87 billion in the third quarter of 2018.

Craig Menear, Chairman of the Board and CEO of Home Depot, says this about the HD share income.

“Our third quarter results reflected broad growth throughout our business, but sales were below our expectations due to the timing of certain benefits associated with our strategic investments for One Home Depot. We are largely on the right track with these investments and have seen positive results, but some of the benefits expected for the 2019 financial year will take longer to materialize than our initial assumptions. ”

Home Depot’s earnings report also includes an update of its guidance for 2019. The company now expects sales growth of approximately 1.80%. Sales growth of 2.30% was previously expected for the year.

The HD share fell 5.27% as of Tuesday afternoon.

At the time of writing, William White had no position in any of the above securities.

Article printed from InvestorPlace Media, https://investorplace.com/2019/11/home-depot-earnings-hit-hd-stock/.

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