HD Supply earnings for the first quarter of 2019 are hitting HDS stock hard on Tuesday.
The bad news for HD Supply (NASDAQ:HDS) has to do with its outlook, which the company has lowered. Starting off, it says that it is now expecting earnings per share for the second quarter of the year to range from $1.04 to $1.12. This is bad news for HDS stock by being below Wall Street’s earnings per share estimate of $1.19 for the quarter.
HD Supply also says that it is only expecting revenue for the second quarter of 2019 to come in between $1.62 billion and $1.67 billion. Unfortunately for HDS stock, this will have the company missing analysts’ revenue estimate of $1.70 billion for the period.
The HD Supply earnings report also contains the company’s outlook for the full year of 2019. This also isn’t good news for HDS stock with earnings per share ranging from $3.52 and $3.70. Wall Street is looking for earnings per share of $3.71 for the full year.
When it comes to revenue for the full year of 2019, HD Supply is expecting it to range from $6.25 billion to $6.35 billion. This is another hit to HDS stock with analysts estimating revenue of $6.36 billion for the full year of 2019.
The poor outlook drags down an otherwise solid HD Supply earnings report. This includes earnings per share of 84 cents on revenue of $1.49 billion. Wall Street’s earnings per share and revenue estimates for the quarter were 81 cents and $1.49 billion.
HDS stock was down 6% as of noon Tuesday.
As of this writing, William White did not hold a position in any of the aforementioned securities.