ATLANTA (

TheStreet

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Home Depot

(HD) - Get Report

, the No. 1 home-improvement retailer, raised its earnings outlook for the fiscal year and said second-quarter profit rose 14.3% on a rebound in its seasonal business.

Home Depot earned $1.36 billion, or 86 cents a share, in the second quarter, up from year-earlier earnings of $1.19 billion, or 72 cents a share.

Sales rose 4.2% to $20.23 billion. Comparable-store sales rose 4.3%; U.S. same-store sales increased 3.5%.

Analysts surveyed by Thomson Reuters expected Home Depot to earn 83 cents a share on revenue of $19.96 billion in the second quarter.

"Our second-quarter results were driven by a rebound in our seasonal business, storm-related repairs and strength in our core categories," said Frank Blake, chairman and CEO, in a statement Tuesday.

Home Depot raised its fiscal-year earnings guidance, saying it expects EPS from continuing operations up about 16% to $2.34. Analysts expect earnings for the year ending in January of $.230 a share.

The company confirmed it expects fiscal-year sales to rise about 2.5%.

Competitor

Lowe's

(LOW) - Get Report

said Monday that second-quarter earnings came in flat.

-- Written by Joseph Woelfel

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