Home Depot earnings yesterday beat estimates and included raising the outlook for the next year. They stand in sharp contrast to Lowes earnings today.
Home Depot noted an increase in both the number of people who made purchases and the amount they were spending on Home Depot products.
Home Depot recorded sales of $23.2 billion for the third quarter, and earned $1.60 a share, which was above analysts estimates of $1.58
Revenue was expected to come in at $23.05 billion which Home Depot easily beat.
Home Depot gains were obvious. Last year for the same period the company reported earnings of $1.36 per share on revenue of $21.82 billion.
Annual revenue is now approaching $93 billion. They are trading at 21 times price to earnings and just 16.4 times price to cash flow. This is in line with its major competitors including Lowes which trades at 22.2 times price to earnings and 13.8 times price to cash flow. Book value of Lowes is higher at $8.11 a share versus Home Depot’s $5.04 per share.
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Home Depot Stock Trade Alert Nov 16 2016
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