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The Home Depot (HD) 2Q 2016 Results: Quarter In Line, Raises EPS Guidance on Better Expense Management

Executive Summary

  • EPS was $1.97, up 13.9% and in line with consensus on record net income of $2.4 billion. Revenues were a record $26.5 billion, up 6.6% year over year and in line with consensus.
  • Comps were 4.7% and 5.4% for US stores, aided by the tailwind of the strong housing market. The Pro and DIY segments maintained a healthy balance.
  • The company maintained guidance of revenues +6.3% and comps +4.9% for 2016 and raised EPS guidance to $6.31 from $6.27.

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