Home Depot Sales Increase Faster Than Expected -- Earnings Review
By Cara Lombardo
Home Depot, Inc. (HD) reported its fourth-quarter earnings Tuesday. Here's what you need to know:
EARNINGS: The home-improvement chain reported net income of $1.78 billion, or $1.52 a share. The impact of the new tax law and one-time bonuses to hourly employees negatively impacted fourth-quarter earnings per share by 17 cents. On an adjusted basis, Home Depot earned $1.69 a share, which is more than the $1.61 a share expected.
REVENUE: Revenue rose 7.5% to $23.9 billion, more than the $23.7 billion analysts polled by Thomson Reuters had expected. Comparable sales rose 7.5%, while analysts polled by Consensus Metrix had expected 6.5%.
TAX CHARGE: The company's quarterly results included a $127 million charge related to the U.S. tax law overhaul.
GUIDANCE: The company guides sales growth of 6.5% in 2018 and comparable store sales growth of 5%.
Write to Cara Lombardo at firstname.lastname@example.org
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February 20, 2018 06:38 ET (11:38 GMT)Copyright (c) 2018 Dow Jones & Company, Inc.