Home Depot Soundly Beats Q2 Earnings Estimates
The Home Depot, Inc. (HD) is the world’s largest home improvement retailer with retail stores all across North America. The Home Depot sells building materials and home improvement products, as well as lawn and garden supplies, and provides installation, home maintenance, and professional service programs.
The Home Depot reported Q2 2018 earnings August 14, 2018. The home improvement retailer beat estimated earnings of $2.84 with reported earnings of $3.05 per share. Sales of $30.5 billion were recorded for the second quarter which is an 8.4 percent increase when compared to the second quarter of 2017. Overall comparable sales increased 8.0 percent and the comparable sales in the United States were positive 8.1 percent.
The company’s net earnings for the quarter were reported at $3.5 billion and diluted earnings increased 35.6 percent per share from the same period in 2017.
Craig Menear, chairman, CEO and president stated, “We were very pleased with our record second quarter sales and earnings. Not only did our seasonal business rebound from the first quarter, but our overall results exceeded our expectations. These results exemplify the outstanding execution of our combined team of store associates, merchants, suppliers and supply chain.”
More information on The Home Depot’s Q2 2018 earnings can be found here.
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