Home Depot Q3 Earnings Beat Estimates

reported better-than-expected earnings for the third quarter on Tuesday. The Atlanta, Georgia-based company reported quarterly net earnings of $1.73 billion, or $1.35 per share, up from $1.54 billion, or $1.15 per share, in the year-ago period. The latest quarter results included $0.01 per share in pretax expense related to company's 2014 data breach. Its sales rose 6.4 percent year-over-year to $21.8 billion. However, analysts were expecting earnings of $1.32 per share on revenue of $21.8 billion. The average estimate among 141 Estimize users was for earnings of $1.34 per share and revenue of $21.82 billion. Comparable store sales climbed 5.1 percent for the third quarter, while comparable sales for U.S. stores surged 7.3 percent. "During the quarter, we saw broad-based growth across our geographies and product categories, led by growth in transactions from both our DIY and Pro customers," said Craig Menear, chairman, CEO and president. "I would like to thank our associates for their hard work and dedication to our customers." Home Depot expects FY earnings of $5.36 per share, versus analysts' estimates of $5.31 per share. It also projects sales to rise around 5.7 percent, and comparable store sales growth of approximately 4.9 percent. Home Depot shares rose 0.57 percent to close at $120.80 yesterday.