Tuesday morning, Home Depot HD released Q1 earnings, beating analyst EPS and Revenue estimates. EPS landed at $0.83 per share versus the consensus of $0.76 with revenue at 19.1 billion versus a consensus of $18.67.
Net sales rose to $19.12 billion, a 7.4 percent increase year over year. This corresponded with just a 7.1 percent increase in the cost of sales, bringing gross profit up eight percent from the same quarter last year. Net income rose 18.5 percent year over year.
Other points of interest include a 2.5 percent increase in customer transactions from the same quarter last year, and a 21.9 percent increase in capital expenditures.
Looking forward in 2013, Home Depot raised its sales guidance to a 2.8 percent increase and 4 percent increase for same store sales. EPS has also been raised to $3.52.
A conference call will be held at 9:00 am EST Tuesday morning to discuss these earnings. Shares closed Monday at $76.76.
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