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Home Depot reports fourth quarter 2018 revenue



Home Depot on Tuesday morning reported revenues and sales in the fourth quarter that missed analysts' expectations and offered a weaker than expected outlook for fiscal 2019.

Home Depot Reported net income for the Quarter ended February 3 at $ 2.34 billion, or $ 2.09 per share, compared to $ 1

.78 billion, or $ 1.52 per share, a year ago, the latest results including an impairment charge. of NOK 247 million, or 16 cents per share, kn delivered to Home Depot is wholesale business, Interline Brands. Analysts wer e calling revenues of $ 2.16 per share, according to a Refinitiv poll.

Quarterly revenue rose nearly 11 percent from a year ago to $ 26.49 billion from $ 23.88 billion. It was also in contrast to analysts' expectations of $ 26.57 billion.

Sales in stores open for at least 12 months were 3.2 per cent, and expected growth of 4.5 per cent.

On Tuesday, Home Depot announced a 32 percent dividend increase, to $ 1.36 a share, and a new $ 15 billion share buyback program.

Looking for financial 2019, the company said it expects to earn $ 10.03 per share, 23 cents of analysts' forecasts, according to Refinitiv data. Home Depot requires that sales at the same store should increase by 5 per cent in fiscal policy 2019, with an income increase of about 3.3 per cent. In the fiscal policy in 2018, the same store rose by 5.2 per cent, and revenue increased by 7.2 per cent.

CEO Craig Menear said "the health of the economy and the consumer, as well as the driving force of our strategic investments," should help the dealer meet its new goals.

The company has used aggressively to increase its e-commerce business and reduce its delivery window, or it takes time to get shipments to customers' homes. Last July, Home Depot said it plans to spend $ 1.2 billion over the next five years on the supply chain.

A year ago, Home Depot has benefited in the fourth quarter from selling more appliances. As Sears & # 39; business base continues to shrink, with J.C. Penney who withdraws from the device category, Home Depot is expected to continue to take a larger share of the current market. But that also means that Home Depot met a tough comparison this fourth quarter compared to 2017.

"Home Depot and Lowe's facial annual comparisons in the fourth quarter that included hurricane-related sales and a strong year since December were adversely affected by the weather in 2018, "Wells Fargo analyst Zachary Fadem said in a note to clients before Tuesday's report.

"The housing market remains delicate," he added.

Too much of last year's confidence in the US housing market increased, and Home Depot and rival helped Lowe. But with the mortgage rate climbing, attitudes have since begun to get sour. This may cause house prices to rise at a slower pace and the market cools down, which has given some fear to the sector.

With today's market term, Home Depot shares have risen by almost 11 percent so far this year, market value to around $ 214.6 billion. It is compared to Lowes, which has a market capitalization of around $ 84.3 billion, and has seen its stock rise about 14 percent this year.


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