Home Depot Reports Q4 Earnings Beat

Home Depot HD shares are trading higher after the company reported better-than-expected fourth-quarter EPS and sales results. The company also said it expects fiscal year 2020 sales growth of 3.5%-4%.

Home Depot reported quarterly earnings of $2.28 per share, which beat the analyst consensus estimate of $2.11 by 8.06%. This is a 1.33% increase over earnings of $2.25 per share from the same period last year.

The company reported quarterly sales of $25.78 billion, which beat the analyst consensus estimate of $25.77 billion. This is a 2.68% decrease over sales of $26.491 billion the same period last year.

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"Fiscal 2019 was a record year for our business and one marked by significant progress as we invest to transform ourselves into the Home Depot of the future,” said Craig Menear, CEO of Home Depot. “We had a strong finish to the year as our fourth quarter results reflect strength in our core business, solid execution around our holiday events and the overall health of the consumer."

Home Depot shares were trading up 2.63% at $246 in Tuesday’s pre-market session. The stock has a 52-week high of $247.36 and a 52-week low of $179.52.