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Home Depot Results Q3 2019



Home Depot shares retreated on Tuesday after the company cut its forecast for 2019 again, keeping sales in the same business well below estimates in its business. The result was a penny better than expected.

Home Depot shares lost around 5% in premarket trading.

According to a survey of analysts at Refinitive, the company stated:

  • Earnings per share: $ 2.53, adjusted, compared to $ 2.52 expected
  • Sales: $ 27.22 billion compared to $ 53 billion expected
  • Same-store sales growth globally: 3.6% expected vs. 4.7%

Home Depot Earnings declined from $ 2.9 billion or $ 2.51

per share a year ago to $ 2.8 billion, or $ 2.53 per share. Analysts had expected the company to earn $ 2.52 per share.

Sales increased 3.5% to $ 27.22 billion, which was $ 27.53 billion analyst estimates. Analysts expected a plus of 4.7%.

Home Depot also lowered its sales forecast for the year. Sales are now expected to grow by 1.8%, according to a previous estimate of 2.3%. The company also lowered its sales forecast for the same business for the fiscal year. Growth of 3.5% is now expected compared to a previous forecast of 4%.

Home Depot said the average customer ticket was $ 66.36 in the third quarter, up from the year-ago quarter. Sales per square foot also increased to $ 449.17 compared to the same period last year.

In the last quarter, the Atlanta-based company reduced its full year revenue guidance, partly due to potential tariff impact. It was estimated that the tariffs of 15 December and the 25% tariffs already in force could increase the cost of sales by about $ 2 billion or about 2% of the annual turnover.

Craig Menear, CEO of Home Depot, also led the ongoing depletion of wood for the lower end of the sales forecast.

Rival Lowe's is expected to announce his winnings before the bell on Wednesday. Home Depot shares reached a 52-week high of $ 239.31 on Monday. The stock, with a value of $ 262 billion, rose 39 percent at the close on Monday. Rival Lowe's with a market value of nearly $ 89 billion has grown 24% since the start of the year.

Read the full press release here.

Correction: An earlier version of This story has misrepresented the forecast for worldwide sales in the same store. Analysts forecast an increase of 4.7%.


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