Home Depot Tops EPS Estimates by a Penny, Revenue Outlook Trimmed
Category Business, Video | Tuesday, August 17th, 2010
“Home Depot (NYSE:HD) reported Q2 EPS of $0.72, topping consensus estimates of $0.71. Revenue rose 1.8% to $19.4 billion, missing estimates of $19.6 billion.
The company updated its sales and EPS guidance for the full year and now sees EPS of $1.90 (vs. $1.88 prior and vs. consensus estimates of $1.89) and now sees sales up 2.6% for the year (vs. 3.5% prior and vs. consensus estimates of 3.4%).
Chairman and CEO Frank Blake said, “”Our second quarter sales reflect the third consecutive quarter of positive same store sales. We delivered solid results as we continue to build momentum with our merchandising transformation, supply chain enhancements and customer service initiatives.”"
SmarTrend alerted subscribers to take profits in Home Depot on May 06, 2010 at $33.73, since then the stock fell 18.8%. We are now watching for any positive developments that could result in a new uptrend signal.”