Home Depot earnings for the fourth quarter of 2018 have HD stock down on Tuesday.
Home Depot (NYSE:HD) reported earnings per share of $2.09 for the fourth quarter of the year. This is an increase over its earnings per share of $1.52 reported in the same period of the year prior. However, it was bad news for HD stock by coming in below Wall Street’s earnings per share estimate of $2.16 for the quarter.
Net income reported in the Home Depot earnings release for the fourth quarter of 2018 comes in at $2.34 billion. This is better than the company’s net income of $1.78 billion reported in the fourth quarter of 2017.
The Home Depot earnings report for the fourth quarter of the year also includes operating income of $3.38 billion. The retailer of home remodeling supplies reported operating income of $3.19 billion during the same time last year.
Home Depot earnings for the fourth quarter of 2018 has revenue coming in at $26.49 billion. This is up from the company’s revenue of $23.88 billion reported in the fourth quarter of the previous year. Unfortunately for HD stock, this still has it missing analysts’ revenue estimate of $26.57 billion for the period.
The most recent Home Depot earnings report also includes its outlook for fiscal 2019. The company is expecting earnings per share for the year to come in around $10.03. That’s a blow to HD stock by being much less than Wall Street’s earnings per share estimate of $10.26 for the year.
HD stock was down 1% as of Tuesday morning.
As of this writing, William White did not hold a position in any of the aforementioned securities.
