Home Depot Inc. HD, -1.64% released its first-quarter financial results before the market opened Tuesday. Here's what you need to know.
PROFIT: The home-improvement retailer made $2.4 billion, or $2.08 a share, up 19% from the $2.01 billion, or $1.67 a share, it made during the same quarter a year ago.
REVENUE: Net sales rose 4.4% to $24.95 billion. Analysts polled by Thomson Reuters were expecting revenue of $25.15 billion. Cost of sales rose 3.8% to $16.33 billion.
SAME-STORE SALES: Home Depot said comparable-store sales rose 4.2% and U.S. comparable-store sales rose 3.9%. Analysts polled by Consensus Metrix were expecting same-store sales to rise by 5.6% and U.S. same-store sales to rise by 5.5%.
EXPENSES: Total operating expenses rose 9% to $5.24 billion.
GUIDANCE: The company said it expects sales to increase by about 6.7% for the year. In the company's fourth-quarter earnings results, it said it expected sales for 2018, including the 53rd week, to rise by about 6.5%. Home Depot said in its latest earnings report it expects comparable-sales in 2018 to rise by about 5%.
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