Home Depot hit the new highs
Shares of Home Depot on Tuesday traded slightly higher in premarket trade after the home-improvement retailer reporter fiscal first-quarter earnings that were better than expected in profit and revenue.
Shares edge higher after better-than-expected profit, revenue
Stocks impacted: Home Depot (HD)
Net income for the quarter were $2.5 billion, or $2.27 a share, from $2.4 billion, or $2.08 a diluted share, in the same period a year ago. The FactSet consensus for earnings per share was $2.18. Revenue rose 5.7% to $26.381 billion, slightly above FactSet consensus for revenue of $26.378 billion, as U.S. same-store sales rose 3%, compared with expectations for a rise of 4.2%.
The company reaffirmed its earnings outlook for fiscal 2019, with sales expected to grow 3.3% and sales comparable to a 52-week period to be up 5% (Last year was a 53-week calendar period, the company said. The company's shares have gained 11.1% so far in 2019, compared with a gain of 10.1% for the Dow Jones Industrial Average DJIA, -0.33% where it is a component, over the same period.
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