Home Depot beats by $0.02, beats on revs; guides FY18 EPS above consensus, revs above consensus (165.35)
- Reports Q3 (Oct) earnings of $1.84 per share, $0.02 better than the Capital IQ Consensus of $1.82; revenues rose 8.1% year/year to $25.03 bln vs the $24.53 bln Capital IQ Consensus.
- Comparable store sales for the third quarter of fiscal 2017 were positive 7.9%, and comp sales for U.S. stores were positive 7.7%
- Impact of Hurricanes in the Fiscal Third Quarter
- The Company estimates that hurricane-related sales positively impacted comparable store sales growth by ~$282 million in the fiscal third quarter.
- The gross margin on these hurricane-related sales was considerably less than the Company average.
- In the fiscal third quarter, the Company also incurred approximately $104 million of hurricane-related expense.
- As a result of the hurricanes, the Company's operating profit was negatively impacted by ~$51 million in the fiscal third quarter.
- Co raises guidance for FY18, sees EPS of $7.36 vs. $7.34 Capital IQ Consensus Estimate; sees FY18 revs of +6.3% YoY to ~$100.6 bln vs. $99.94 bln Capital IQ Consensus Estimate. This compares to prior EPS guidance of $7.29, and revs guidance of +5.3% to $99.6 bln
- Co sees FY18 comp sales to be up ~6.5%