Home Depot announced that its Q4 2010 earnings was $587 million, or 36 cents a share, an increase of 72% compared to $342 million, or 20 cents a year earlier. Total sales increased 3.8% to $15.13 billion. Same-store sales increased 3.9%, the best growth in 5 years.
HD reported that its Q3 2010 earnings were $834 million, or 51 cents per share, up 21% from $689 million, or 41 cents per share a year earlier. The company benefited from lower costs that resulted from cut jobs in Q1 and from better inventory management. Net revenue increased 1.4%. Home Depot increased its FY forecast to $1.94 per share, up from $1.90 per share.
HD announced that its Q2 2010 earnings were $1.19 billion, or 72 cents per share, an increase of 6% from $1.12 billion, or 66 cents per share in the previous year quarter. Revenue increased 2% while same-store sales increased 1.7% worldwide. The company remained cautious due to the weak economy and cut its full year revenue guidance.
Goldman Sachs lowered its estimates for HD due to a lower sales outlook. Goldman maintained its "buy" rating on Home Depot.
BMO Upgraded HD to marketperform from underperform. Analyst Wayne Hood said the stocks have a "more favorable balance of upside to downside risk." BMO also upgraded competitor LOW to marketperform as well.
JMS downgraded HD to neutral from buy. JMS believes the minor recovery in housing was due to the government stimulus, which has ended. JMS set a target price of $30 on HD. JMS also downgraded HD's competitor LOW to neutral as well.
Home Depot reported that is Q1 2010 earnings was $725 million, or 43 cents per share, up 41.1% from earnings of $514 million, or 30 cents per share, a year earlier. Net sales increased by 4.3% to $16.86 billion. Total comparable store sales increased by 4.8%. US comp increased by 3.3%, the first gain since Q4 2005. The company increased its full year guidance, but missed expecations.
Home Depot announced that its Q4 2009 earnings were $342 million, or 20 cents per share, up form a loss of $54 million during the same quarter last year. This profit came from an 8.7% reduction in operating expenses, which were offest by a 0.3% decline in net sales. Comparable store sales grew by 1.2% company wide, but the comp in the US fell by 1.1%.
Home Depot announced that its Q4 2009 earnings was $342 million, or 20 cents per share, up from a loss of $54 million a year ago. Growth in profit was a result of a 8.7% decrease in operating expenses, which was offset by a 0.3% decline in net sales. Comparable store sales for the company increased 1.2% but declined 1.1% for the US.
HD announced that its Q3 2009 earnings were down 8.9% from $756 million or 45 cents/share to $689 or 41 cents/share. This was due to an 8% decrease in sales and 6.9% decrease in same store sales. Analysts on average were expecting earnings of 36 cents per share. The company noted that they were still facing a lot of pressure from the weak housing market and economic downturn and that a market recovery wouldn't happen until the middle of 2010.
Home Depot announced that it reached an agreement with Martha Stewart Living Omnimedia Inc. and will sell a brand of interior and exterior paint called that will feature 280 colors created by Martha Stewart. The company hopes to increase its Paint revenues as it was the only category to achieve positive comparable sales growth in Q3 2009. In addition, Home Depot will also sell Martha Stewart Clean, an eco-friendly line of cleaning products.
Despite a 7% decrease in net income from the previous year's quarter, HD beat the Street's expectations by cutting costs and focusing more on selling smaller items. In addition, the number of people making purchases at HD rose for the first time in 2 years by 0.3%.
HD posted a 44% increase in quarterly profits but failed to beat investor expectations. This came shortly after competitor Lowe's increased its full-year outlook. HD's U.S. same store sales fell 8.6% compared to the 6.6% drop that Lowe's experienced. In addition, there was news that housing construction had reached an all-time low, thus taking more away from HD's profit news.
HD saw a 3 cent per share loss in its Q4, as well as a 17% drop in revenue to $14.6 billion.
In Q3 2008 (ended Nov. 2, 2008), HD reported net income of $756 million, a decrease of 31% from the prior-year quarter. Sales were down by 6.2% to $17.8 billion, and same store sales were down by 8%. Although results are better than expected, HD has been hit hard by the economic recession and the housing market slump.
Net sales at The Home Depot fell 3.4% during the first quarter of fiscal 2008 and comparable store sales fell 6.5% during the same period. The retailer is continuing to struggle with the downturn in the housing market and U.S. economy and is scaling back its previous expansion plans.
Home Depot announced that it is cutting previous plans to open approximately 50 stores in the U.S. this year. The retailer also plans on closing 15 stores that have been performing below company expectations within the next two months, putting the jobs of 1,300 employees at risk. The new plans will result cost Home Depot a $586 million charge in expenses related to store shutdowns, etc.
Home Depot announced that it would be firing 10% of its 5,000 employees currently working at the company's Atlanta headquarters. Management cited tough market conditions and poor expectations for 2008 as reasons for the layoffs.
Home Depot decided to buy back 289.6 million shares worth $10.7 billion on the expiry of its ‘Dutch Auction’. The company had earlier announced that it will buy the shares in a price range of 39-44, but owing to difficult market conditions, it cut down the range to 37-42.
Home Depot sells its HD Supply (business-to-business construction supplies) business to three private equity firms for about $8.5 billion.
On July 10th, Home Depot cuts its projections for annual profit due to the recent housing slump. Stock plummets for the next month, exacerbated by concerns about a weak sale price for Home Depot Supply to private equity investors.
07/10/2007 - 08/16/2007 Change: ↓ 18.45% On July 10th, Home Depot cuts its projections for annual profit due to the recent housing slump. Stock plummets for the next month, exacerbated by concerns about a weak sale price for Home Depot Supply to private equity investors.
Home Depot announces quarterly earnings. They announce a profit drop of 29.5% and a net income loss of 30%.
Home Depot announces labeling of "green" products to appeal to its more environment-focused consumers.
