Executive Summary

• Home Depot reported 4Q17 adjusted EPS of $1.69, up from $1.44 in the year-ago quarter and beating the $1.62 consensus estimate. Total revenues were $23.9 billion, beating the consensus estimate of $23.7 billion.
• Total comps rose by 7.5% during the quarter, beating the 6.5% consensus estimate. Comps for US stores were up 7.2%. Comp growth was driven by a 5.5% increase in average ticket spend and a 1.9% increase in customer transactions.
• Home Depot raised its FY18 guidance. The company now expects revenue growth of 6.5% year over year, versus 6.3% previously, and comp growth of 5.0%.