COBB COUNTY (Alliance News) - Home improvement retailer Home Depot Inc. posted higher second-quarter net earnings of USD2.1 billion, or USD1.52 per share, compared with USD1.8 billion, or USD1.24 per share, in the same period of fiscal 2013. On average, 28 analysts polled by Thomson Reuters expected earnings of USD1.45 per share for the quarter. Analysts' estimates typically exclude one-time items.
The firm clocked USD23.81 billion in sales for the recent quarter, a 5.7% increase from the prior year's USD22.52 billion. Analysts estimated revenues of USD23.61 billion for the period. Comparable-store sales for the second quarter of fiscal 2014 were positive 5.8%, and comp sales for US stores were positive 6.4%.
For fiscal 2014, Home Depot continues to expect sales to grow nearly 4.8% from fiscal 2013. Looking ahead, the company raised its fiscal 2014 earnings-per-share view and now expects earnings per share to be up around 20.2% to USD4.52 for the year. This earnings-per-share outlook includes the benefit of the firm's year-to-date share repurchases of USD3.5 billion and its plan to buy back an additional USD3.5 billion of shares over the remainder of the year.