The Home Depot’s Q1 Earnings Report & Review
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 its Q1 earnings of $2.08 on May 15, 2018, missing the estimates of $2.10 per share. Despite missing estimates, the company reported $24.9 billion in sales, up 4.4% from Q1 2017. First quarter comparable sales for 2018 were up 4.2%.
Net earnings were reported at $4.2B. Home Depot expects is fiscal 2018 sales to see a 6.7% and a 5% growth in comp sales.
“We are pleased by the strength of our business despite a slow start to the spring selling season. Outside of our seasonal business, we had solid results in all markets and categories and are seeing strong momentum in all lines of business during these first few weeks of May. These trends, as well as a favorable housing and macroeconomic backdrop, give us confidence to reaffirm our sales and earnings guidance for fiscal 2018. I would like to thank our associates for their hard work and continued dedication to our customers.” – Craig Menear, chairman, CEO and president