Home Depot Tops Views, Sees Rising Sales
ATLANTA (
) --
Home Depot
(HD) - Get Report
, the No. 1 home-improvement retailer, said third-quarter earnings rose to $834 million, or 51 cents a share, from $689 million, or 41 cents a share, a year earlier.
Sales rose 1.4% to $16.6 billion, while comparable-store sales also rose 1.4%. Same-store sales in the U.S. increased 1.5%.
Analysts surveyed by Thomson Reuters expected Home Depot to earn 48 cents a share in the quarter on revenue of $16.59 billion.
Home Depot said Tuesday it expects fiscal-year sales to rise 2.2%, and net income from continuing operations to rise by about 25% to $1.94 a share.
Analysts forecast Home Depot will earn $1.90 a share in the fiscal year on sales of $67.55 billion.
Rival
Lowe's
(LOW) - Get Report
Monday said
rose 2% to $11.59 billion, falling short of analysts' expectations.
Net income at Lowe's rose to $404 million, or 29 cents a share, from $344 million, or 23 cents a share, in the year-earlier period. Excluding a charge, earnings were 31 cents a share, topping estimates by a penny.
-- Written by Joseph Woelfel
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