Home Depot Posts Mixed Q1, Raises 2011 EPS Guidance

May 18, 2011

The Home Depot (NYSE:HD) reported Q1 EPS of $0.50 today, just beating the consensus estimate for $0.49 per share. Revenue for the quarter fell 0.2% year-over-year to $16.8 billion, which was below the consensus estimate for $17.0 billion.Comparable store sales were down 0.6% vs. the year ago period, and for the U.S. comparable stores sales fell 0.7%.Frank Blake, chairman & CEO said, "We continued to improve our business and delivered double-digit earnings growth. Our sales declined slightly due to a slow spring selling season, but for the year we expect sales to grow in line with the guidance we previously provided. We will maintain our focus on providing great customer service and product and project values. I would like to thank our associates for their hard work and dedication."The company raised its full year 2011 EPS estimate to $2.24, which is still below the consensus estimate for $2.31 per share, and expects sales to be up approximately 2.5% from 2010.