Home Depot (HD) said Tuesday its fourth-quarter profit topped Wall Street analysts' expectations, helped by an extra week of sales in the current quarter as well as by both improvements in the U.S. housing market and purchases made in the aftermath of super storm Sandy.
In the latest period, Home Depot earned $1.0 billion, or 68 cents per share, up from earnings of $774 million, or 50 cents per share, in the year-ago period.
Sales rose to $18.25 billion from $16.01 billion a year ago.
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Analysts had expected the company to report a profit of 64 cents on $17.70 billion in revenue, according to a consensus estimate from Thomson Reuters.
The company said the extra week of sales added about $1.2 billion to its top line, and boosted earnings by about 7 cents a share.
For fiscal year 2013, the retailer expects sales to rise 2 percent, but be up 3 percent on a same-store sales basis.
Earnings after the planned share repurchases will be up 12 percent to $3.37 a share in fiscal year 2013, the company said.
That forecast is below the $3.49 a share that analysts were projecting.
A day earlier, rival Lowe's posted earnings that topped expectations, but its full-year guidance fell short of expectations. For fiscal 2013, Lowe's said it expects to earn $2.05 a share, however, analysts were estimating the retailer would earn $2.10 a share.
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