Earnings Analysis: Home Depot (HD)
Remember this guy? Yeah, I used this image to help describe what Home Depot's quarterly results were like last quarter. And you know what? That guy is still just screaming through the air it would seem! Home Depot announced their first quarter 2017 results yesterday and it was a thing of beauty. Earnings beat expectations by seven cents, coming in at $1.67 on $23.9B in sales, which also beat expectations of $23.65B. And to add insult to injury, store comp sales were 6% in the US - crushing the analyst expectations of 3.9%. During the call, management also explained how these numbers were also negatively impacted due to inclement weather and a later than normal Easter season. And one final perk was provided when 2017 guidance was raised to $7.15 including the impact of share repurchases. Strength existed throughout the store with flooring and tools being some of the strongest areas. We also saw strong growth from the pro builder, which solidly outpaced the DIYer.