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Better-than-expected Earnings Report Boosts Home Depot Shares Higher

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Nov, 14th 18:09

Shares of Home Depot advanced on Tuesday after the largest U.S. home improvement chain reported third-quarter earnings that beat analysts’ estimates. The company also increased its guidance for the year.

Home Depot’s shares jumped 1.28 percent to trade at $167.46 per share in North American trading session on Tuesday after the Atlanta-based company said it earned $2.17 billion, or $1.84 a share in the third quarter. The result marked an increase from $1.97 billion, or $1.60 a share a year ago and topped expectations calling for earnings of $1.82 a share.

The company increased its guidance for earnings per share to $7.36, up 14% from 2016, and forecast that comparable-store sales will grow by about 6.5%. The home improvement company previously expected EPS to up 13% to $7.29 and comparable-store sales to climb about 5.5%.

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