Home Depot Inc (NYSE: HD) is off to a relatively strong start to the trading session in the pre-market this morning, and for good reason. The company released its earnings for the most recent quarter and updated its full-year earnings and sales expectations. Of course, the news was positive, leading to slight gains in the pre-market and prompting an alert from our partners at Trade Ideas! At the moment (6:55), HD is trading at $154.30 per share after a gain of $0.04 per share or 0.03% thus far today.
HD Gains On Strong Earnings
As mentioned above, Home Depot is slightly up in the market this morning after releasing its earnings for the second quarter. Here’s what we saw from the report…
- Earnings – In terms of earnings, HD definitely did not disappoint. During the quarter, the company generated net earnings in the amount of $2.67 billion, a total of $2.25 per share. That’s a nice gain from $2.44 billion or $1.97 per share, and well ahead of analyst expectations at $2.21 per share.
- Revenue – Revenue also proved to be positive for HD. During the quarter, analysts expected that the company would generate revenue in the amount of $27.83 billion. However, the company actually reported revenue in the amount of $28.11 billion, blowing away expectations and showing strong growth from $26.47 billion just one year ago.
- Guidance – In terms of guidance, Home Depot said that it expects full year sales to rise by 5.3% while per share earnings should rise to $7.29, an increase of 13%.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping a close eye on HD. In particular, we’re interested in following the company throughout the rest of the year to see if it can reach the high bar it has set for itself. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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