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Home Depot Earnings: HD Stock Hit 5% by Q3 Revenue Miss

HD's EPS beat couldn't save it

Home Depot (NYSE:HD) earnings for the home improvement retailer’s third quarter of 2019 have HD stock taking a beating on Tuesday. The company reported diluted earnings per share of $2.53, which is above Wall Street’s estimate of $2.52. Unfortunately for HD, stock revenue of $27.22 billion is below analysts’ estimates of $27.53 billion.

Home Depot Earnings: HD Stock Hit 5% by Q3 Revenue Miss
Source: Cassiohabib / Shutterstock.com

Now for a closer look at the most recent Home Depot earnings report.

  • EPS is up close to 1% from the $2.51 reported in the third quarter of 2018.
  • Revenue is 3.50% better than the $26.30 billion in the same period of the year prior.
  • Operating income of $3.95 billion is 2.07% higher YoY than $3.87 billion.
  • The Home Depot earnings report also includes a net income of $2.77 billion.
  • That’s a 3.48% drop from the company’s net income of $2.87 billion in Q3 2018.

Craig Menear, Chairman and CEO of Home Depot, says this about the HD stock earnings.

“Our third quarter results reflected broad-based growth across our business, yet sales were below our expectations driven by the timing of certain benefits associated with our One Home Depot strategic investments. We are largely on track with these investments and have seen positive results, but some of the benefits anticipated for fiscal 2019 will take longer to realize than our initial assumptions.”

The Home Depot earnings report also includes an update to its 2019 guidance. The company is now expecting revenue growth of approximately 1.80%. It was previously expecting revenue growth of 2.30% for the year.

HD stock was down 5.27% as of Tuesday afternoon.

As of this writing, William White did not hold a position in any of the aforementioned securities.


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

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