360° Coverage : Home Depot Shares Tick Up On Earnings Beat, Dividend Increase

1 Updates

Home Depot Shares Tick Up On Earnings Beat, Dividend Increase

Feb 25 2014, 9:03am CST | by

The largest home improvement retailer in American is optimistic about the housing market. Home Depot beat Wall Street’s earnings expectations, reported its best same store sales since 2000 and added...

Filed under: news

 
 
 

26 weeks ago

Home Depot Shares Tick Up On Earnings Beat, Dividend Increase

Feb 25 2014, 9:03am CST | by

The largest home improvement retailer in American is optimistic about the housing market. Home Depot beat Wall Street’s earnings expectations, reported its best same store sales since 2000 and added to its quarterly dividend.

The Home Depot reported $17.7 billion in fourth quarter revenue, down 3% from the same period in 2012 and somewhat behind Wall Street analysts’ consensus estimate. The company attributes the decline to a shortened quarter, saying that the 14th week in the prior year added $1.2 billion in sales. Excluding the extra week, fourth quarter sales were up 3.9% from 2012 to 2013.

Same store sales gained 4.4% during the quarter with domestic stores gaining 4.9%. Net earning came in at $1 billion, in line with the previous year quarter. Earnings per share were 73 cents, beating the Street estimate by 2 cents. Citi analyst Kate McShane wrote in a note that same store sales were light of expectations for 4.6%. However, she wrote that this may be due to “recent inclement weather.”

Full year revenue gained 5.4% from the prior year coming in at $78.6 billion (versus a $78.8 billion estimate). Same store sales gained 6.8% and net earnings came in at $5.4 billion up 18.7% from the previous year. Per share earnings were $3.76. CEO Frank Blake noted in a statement that the recovering housing market helped the company post its strongest same store sales growth in 14 years.

Buoyed by the success the company also announced a 21% increase to its quarterly dividend to 47 cents.

Looking ahead the company expects revenue growth of around 4.8% and same store sales growth of about 4.6%. Home Depot expects earnings per shares to gain 16.5% to $4.38 after an anticipated $5 billion in share buybacks. Citi’s McShane optimistically noted that there may be “a degree of conservatism”in the company’s same store sales guidance given the slight beat this quarter.

Shareholders also seem to be taking the report in stride. The Home Depot stock was up around 2% morning trading Tuesday going as high as $80.08.


Follow @samsharf/>

Source: Forbes Business

 
Update
1

22 hours ago

MAS posts loss of RM307m for Q2

Aug 28 2014 5:00pm CDT | Source: Business Times Singapore

August 29, 2014 1:13 AMMALAYSIA Airlines (MAS) registered a loss of RM307 million (S$122 million) for the second quarter to end-June, but warned of worse to come in the second half when the "full financial impact of the double tragedies of MH370 ...
Source: Business Times Singapore   Full article at: Business Times Singapore
 

 

Don't miss ...

 

<a href="/latest_stories/all/all/30" rel="author">Forbes</a>
Forbes is among the most trusted resources for the world's business and investment leaders, providing them the uncompromising commentary, concise analysis, relevant tools and real-time reporting they need to succeed at work, profit from investing and have fun with the rewards of winning.

 

blog comments powered by Disqus

Latest stories

Modi government selling off Indian assets: Mamata
Kolkata, Aug 30 (IANS) Accusing the Narendra Modi led BJP government of selling out the country's assets by embracing FDI across sectors, West Bengal Chief Minister Mamata Banerjee Friday warned that such policies would put Indian economy in grave crisis.
 
 
13 die of Ebola in DRC
Kinshasa, Aug 29 (IANS) A total of 13 people, including five doctors, died of Ebola virus disease in the Democratic Republic of Congo (DRC), the country's Minister of Public Health Felix Kabange told Xinhua Friday.
 
 
How birds learnt to fly
New York, Aug 29 (IANS) Birds have an innate ability to maneuver in mid-air, a talent that could have helped their ancestors learn to fly rather than fall from a perch, says a study.
 
 
Millions of mites crawling on your face right now!
New York, Aug 29 (IANS) Are you aware that your face is brimming with living mites that feed on the oil our skin secretes and hide in tiny hair follicles? And no, they are not pooping on you as they store up all the excreta until they die!
 
 
 

Latest from the Network

Happy to call Brad Pitt my son-in-law: Voight
Los Angeles, Aug 30 (IANS) Actor Jon Voight is happy that now he can call Brad Pitt his son-in-law. Voight is happy about the wedding of his daughter Angelina Jolie to her partner of nine years and although he wasn't...
Read more on Celebrity Balla
 
Modi government selling off Indian assets: Mamata
Kolkata, Aug 30 (IANS) Accusing the Narendra Modi led BJP government of selling out the country's assets by embracing FDI across sectors, West Bengal Chief Minister Mamata Banerjee Friday warned that such policies...
Read more on Politics Balla
 
Gunmen kill two officials in Yemen
Sana'a, Aug 30 (IANS) Unidentified gunmen shot dead two officials in Yemen's southern province of Lahj Friday, a security official said. "An official of the General People Congress party and another official of Lahj...
Read more on Politics Balla
 
Adam Levine wants 100 kids
Adam Levine wants to have ''more kids than would be socially responsible.'' The Maroon 5 frontman, who married Namibian model Behati Prinsloo in Mexico last month, can't wait to become a father, but says they're too...
Read more on Celebrity Balla
 
David Beckham uninjured in motorcycle crash
David Beckham crashed his motorcycle in Los Angeles yesterday (08.28.14). The 39-year-old star, who has sons Brooklyn, 15, Romeo, 11, and Cruz, nine, and three-year-old daughter Harper with wife Victoria Beckham,...
Read more on Celebrity Balla
 
Demi Lovato got confidence from Kim Kardashian
Demi Lovato credits Kim Kardashian and Beyoncé for helping her to feel more body confident. The 22-year-old singer claims she was ''miserable'' when she was thinner and says the 'Keeping Up with the Kardashians' beauty...
Read more on Celebrity Balla
 
Adam Brody praises Rachel Bilson's kissing skills
Adam Brody says Rachel Bilson is ''one of the all time'' greatest kissers. The 34-year-old actor, who is married to former 'Gossip Girl' star Leighton Meester, opened up about what it was like to kiss his ex-girlfriend...
Read more on Celebrity Balla
 
Racial discrimination in US cause of concern: UN panel
Geneva, Aug 30 (IANS) The United Nations' Committee on the Elimination of Racial Discrimination (CERD) Friday said that racial and ethnic discrimination in the US remain a major cause of concern. In its concluding...
Read more on Politics Balla
 
Russia to enhance nuke capability for own security: Putin
Moscow, Aug 29 (IANS/ITAR -TASS) Russia will continue building up its nuclear potential not for the purpose of intimidation but for ensuring its security, President Vladimir Putin said Friday. "We are strengthening...
Read more on Politics Balla
 
Political deadlock persists in Pakistan as army plays 'facilitator' (Roundup)
Islamabad, Aug 29 (IANS) The talks between the government and representatives of the Pakistan Tehreek-e-Insaf (PTI) and Pakistan Awami Tehreek (PAT) failed to break the political deadlock between the two sides Friday...
Read more on Politics Balla