Highlights from Home Depot's Third Quarter Conference Call - Home Depot (NYSE:HD)

Home DepotHD

reported its third quarter results Tuesday morning. The company's management hosted a conference call shortly after to discuss its quarter and future outlook. Below are some of the highlights from the call:

Third Quarter In Review

39 of the company's 40 markets in the U.S. increased comp sales. Sales in windows, counters and heaters were particularly strong.
All merchandising divisions showed a positive comparison in the quarter.
Big ticket purchases were driven by flooring and counters.
Appliance sales were in-line with overall gains.
Purchases above $900 rose 5.9 percent in the quarter.
Third quarter online sales rose around 40 percent.

Fourth Quarter Outlook

Data breach related costs is expected to be $6 million after insurance claims.
Any bias in forecasting sales would be on the upside.
November sales is “impressing” the company so far.

Full Year Outlook

Comp sales growth is estimated to be 4.6 percent.
Data breach related costs for the entire year is estimated to be $34 million.
Company plans on repurchasing $7 billion worth of shares for the entire year.
The effect on sales from the data breach is difficult to determine.

2015 Commentary

2015 home prices are expected to rise but won't be as “robust” as 2014.

Market News and Data brought to you by Benzinga APIs