On Tuesday, Home Depot, Inc. (NYSE: HD), which is the world's largest home improvement retailer, announced its financial results for the second quarter, with both revenue and earnings beating analyst’ estimates.
For the second quarter, net earnings increased from $2.4 billion, or $1.97 per diluted share in the same period last year to $2.7 billion, or $2.25 per diluted share this year, beating previous expectations of $2.22 per share. Revenue rose 6.2% to $28.11 billion for the second quarter of fiscal 2017, also topping analysts’ estimates of $27.84 billion. In addition, comparable store sales increased 6.3%, and comparable sales at U.S. stores increased 6.6%.
Based on the financial results for the second quarter, the company raised it guidance for the full-year 2017. Sales is expected to be up around 5.3% and comparable sales to be up around 5.5%. Diluted earnings-per-share is expected to be $7.29 per share, including the impact of $7 billion of share repurchases for fiscal 2017, according to the company.
“We were pleased with our results this quarter as our customers rewarded us with the highest quarterly sales in company history,” Craig Menear, the chairman, CEO and president of Home Depot, said in the statement on Tuesday.
“We also achieved the highest quarterly net earnings in company history. These results were made possible by our hard working associates and the outstanding values brought forth by our supplier partners,” he said.