Home Depot's Profit Up

Home Depot (NYSE: HD) announced its results for the third quarter on November 15, 2011. Let's take a closer look at the company's industry, financials, and commentary and see what steps you can take next.

Earnings and Revenue:
Investors cheered Home Depot's latest numbers as the company announced EPS and revenues that topped predictions. The company reported EPS of 60 cents/share versus the 59 cents/share estimate and revenues of $17.3 billion versus the $17.09 billion estimate. EPS rose 17.6% while revenue climbed 4.2% from the same period last year.
Last quarter marked the third in a row of rising net income. Revenue rose for a second quarter in a row as Home Depot's sales grew 4.2% to $20.23 billion in the second quarter as well.

Income:
Over the past year, Home Depot reported net income of $2.32/share. The company trumped analyst projections of $2.24 by 3.6%. According to the reported number, the company's income rose 12% from last year's levels.

Conference Call:
The conference call for third quarter earnings can be accessed here.

Official Comment:
"Our third quarter was driven by strength in our core categories and storm-related sales as well as strong operating performance," said Frank Blake , chairman & CEO. "We will continue to invest in our core initiatives to provide customers with exceptional customer service and great product values. I would like to thank our associates for their hard work and dedication."

Industry:
Home Depot's industry, building products-retail/wholesale, is currently reporting price/earnings growth of 1%.

What to Do Next:
That's it -- now you have all the facts to help you decide whether to buy, sell or hang onto your Home Depot shares. And don't forget to check in with us before next earnings season for a full preview of the company's next release.

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(Estimates Source: Zacks)