Home Depot, Inc. Earnings Cheat Sheet: Profit Increases Again

S&P 500 (NYSE:SPY) component Home Depot, Inc. (NYSE:HD) reported net income above Wall Street’s expectations for the second quarter. The Home Depot, Inc. is a home improvement retailer that sells an assortment of building materials, home improvement and lawn and garden products.

Investing Insights: Steve Jobs Prepares to Deliver a New Catalyst for Apple’s Stock.

Home Depot Earnings Cheat Sheet for the Second Quarter

Results: Net income for the home improvement store rose to $1.36 billion (87 cents per share) vs. $1.19 billion (72 cents per share) in the same quarter a year earlier. This marks a rise of 14.3% from the year earlier quarter.

Revenue: Rose 4.2% to $20.23 billion from the year earlier quarter.

Actual vs. Wall St. Expectations: HD beat the mean analyst estimate of 82 cents per share. Analysts were expecting revenue of $19.96 billion.

Quoting Management: “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 & CEO. “We continue to deliver a strong operating performance while also investing in customer service and our merchandising initiatives. I would like to thank our associates for their hard work and dedication. It is their efforts that enabled us to deliver these results.”

Key Stats:

The company has now seen net income rise in three straight quarters. In the first quarter, net income rose 12% and in the fourth quarter of the last fiscal year, the figure rose 71.6%.

The company has now topped analyst estimates for the last four quarters. It beat the mark by one cent in the first quarter, by 6 cents in the fourth quarter of the last fiscal year, and by 3 cents in the third quarter of the last fiscal year.

Revenue rose last quarter after seeing a drop the quarter before. Revenue fell 0.2% to $16.82 billion in the first quarter from the year earlier.

Competitors to Watch: Lowe’s Companies, Inc. (NYSE:LOW), Builders FirstSource, Inc. (NASDAQ:BLDR), Lumber Liquidators Hldgs., Inc. (NYSE:LL), Tractor Supply Company (NASDAQ:TSCO), Hornbach-Baumarkt-AG (NYSE:HBM), PulteGroup (NYSE:PHM), Toll Brothers (NYSE:TOL), D.R. Horton (NYSE:DHI), KB Home (NYSE:KBH), Lennar Corp (NYSE:LEN), Beazer Homes (NYSE:BZH), Sherwin-Williams (NYSE:SHW), Sears Holdings (NASDAQ:SHLD), Target (NYSE:TGT) and Wal-Mart (NYSE:WMT).

Investing Insights: Steve Jobs Prepares to Deliver a New Catalyst for Apple’s Stock.

(Source: Xignite Financials)