Home Depot, Inc.’s (HD) Fourth-Quarter Review

Analyst David MacGregor at Longbow Research has released a report reviewing the fourth-quarter results at Home Depot, Inc. (NYSE: HD).

The company reported adjusted EPS of $0.24, which excludes a $163 million write-down related to the EXPO supply business. Excluding a $0.01 tax rate benefit, the EPS for the quarter was $0.23, which is well ahead of Longbow’s, and consensus estimate of $0.17.

According to analysts, the upside to the earnings was due to a stronger-than-expected comparable store sales figure, which increased for the first time in three years.

Longbow Research continues to rate Home Depot, Inc. as a Neutral.