Home Depot Q3 Earnings and Sales Rise

By Chris Lange Updated Jan 12, 5:48PM EST · Published Nov 15, 9:10AM EST

Follow 24/7 Wall St. on Google

This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them.

Home Depot Q3 Earnings and Sales Rise — © Thinkstock

Home Depot Inc. (NYSE: HD) reported its fiscal third-quarter financial results on Tuesday before the markets opened. The company said that it had $1.60 in earnings per share (EPS) and $23.15 billion in revenue. The consensus estimates from Thomson Reuters had called for $1.58 in EPS and revenue of $23.05 billion. In the same period of last year, the specialty retailer posted EPS of $1.36 and $21.82 billion in revenue.

Comparable store sales for the third quarter of fiscal 2016 were positive 5.5%, and comp sales for U.S. stores were positive 5.9%.

In terms of guidance for the 2016 full year, the company expects to see sales up 6.3% and comparable sales up roughly 4.9%, with EPS up 15.9% to $6.33. The consensus estimates are $6.33 in EPS and $94.16 billion in revenue.

At the end of the third quarter, the Company operated a total of 2,276 retail stores in all 50 states, the District of Columbia, Puerto Rico, U.S. Virgin Islands, Guam, 10 Canadian provinces and Mexico.

[nativounit]

On the books, Home Depot cash and cash equivalents totaled $3.59 billion at the end of the quarter, up from $3.04 billion in the same period from last year.

Craig Menear, chairman, CEO and president of Home Depot, commented:

We experienced balanced sales growth in the quarter driven by an increase in both ticket and transactions, and our continued focus on productivity drove double-digit earnings-per-share growth. I would like to thank our associates and suppliers for their hard work and dedication to our customers throughout the quarter, and particularly in the face of Hurricane Matthew and the flooding in Louisiana.

Shares of Home Depot closed Monday at $127.67, with a consensus analyst price target of $147.88 and a 52-week trading range of $109.62 to $139.00. Following the release of the report, the stock was up over 1% at $129.15 in early trading indications Tuesday.

[wallst_email_signup]

About the Author Chris Lange →

Chris Lange is a writer for 24/7 Wall St., based in Houston. He has covered financial markets over the past decade with an emphasis on healthcare, tech, and IPOs. During this time, he has published thousands of articles with insightful analysis across these complex fields. Currently, Lange's focus is on military and geopolitical topics.

Lange's work has been quoted or mentioned in Forbes, The New York Times, Business Insider, USA Today, MSN, Yahoo, The Verge, Vice, The Intelligencer, Quartz, Nasdaq, The Motley Fool, Fox Business, International Business Times, The Street, Seeking Alpha, Barron’s, Benzinga, and many other major publications.

A graduate of Southwestern University in Georgetown, Texas, Lange majored in business with a particular focus on investments. He has previous experience in the banking industry and startups.