NEW YORK (TheStreet) -- Shares of HD Supply Holdings (HDS) rocketed up 8.63% to $25.06 in trading Tuesday. The surge comes after the industrial distributor filed its Securities and Exchange Commission (SEC) Form 8-K.
The company reported significantly lower losses in the fourth quarter of its 2013 fiscal year than in the previous year. The company lost $66 million, or 34 cents per share, compared to $713 million, or $5.46 per share, in the fourth quarter of its 2012 fiscal year. It attributed the narrower loss margin in part to extinguishment and modification of debt payments the company made in 2012.
Year-to-year net sales for the quarter decreased to $1.93 billion from $1.97 billion, beating analysts estimates of $1.92 billion, while year to year adjusted sales were up 6.9%.
HD Supply also had a fourth quarter EPS of $0.00, three cents better than analysts estimates of -$0.03