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The Home Depot, Inc. Message Board

  • adspatz adspatz Aug 21, 2013 8:59 AM Flag

    Home Depot reports 17% quarterly earnings growth

    Search for "SEC Live Filings Digest" to find out more.
    The Home Depot Inc. (HD) announced its second quarter financial results for the fiscal year 2013, reporting earnings of $1.8B. Last year Home Depot earned $1.53B, with $1.01 earnings per share, while this quarter’s earnings per share were $1.24. Sales saw nearly double-digit growth at 9.5%, with $22.5B for the quarter, up from $20.6B this period last year. Home Depot CFO Carol Tome remarked that sales are increasing due to increased housing prices, resulting in homeowners viewing their properties as investments and not burdens. Optimism is measured with an acknowledgement that increased interest rates could suppress consumer spending and mortgage availability. With the earnings announcement Home Depot also updated its annual guidance, increasing its earnings per share estimate by $0.08 as well as its revenue an additional 1.7%.

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