Mortgage technology will be ready to address TRID

Mortgage technology will be ready to address TRID

Won’t magically make challenges and cost of compliance disappear

Mortgage industry embraces new CFPB mortgage toolkit

Know Before You Owe gets qualified stamp of approval

Did little-known Arizona law start the appraiser death clock?

Gov. Ducey inadvertently hands a victory to AMCs
W S
Investments / The Ticker

Home Depot pulls in strong 3Q sales

Increases sales by 7.4%

house construction

Home improvement store Home Depot (HD) released a much strong third-quarter earnings report, with the company’s sales increasing to $19.5 billion, up 7.4% from a year earlier.

The company’s net earnings for the third-quarter reached $1.4 billion, or 95 cents a share, compared to $947 million, or 63 cents a share, for 3Q-2012.

"All three U.S. regions experienced strong growth on the back of continued favorable housing trends, giving us more confidence that 4Q13 comp-store sales could rise 6%. Sales to the professional continued to grow faster than to do-it-yourselfers," said Wayne Hood with BMO Capital Markets Corp. 

"Sales trends remained robust in the 3Q-13, but we are more impressed with the company’s strong execution that is leading to quality earnings growth," Hood added.  

As a whole, the company raised its fiscal 2013 sales guidance and now expects sales to be up approximately 5.6%.

"Our third quarter results reflect the continuing improvement in the housing market and our solid operational performance," said Frank Blake, chairman & CEO. "I would like to thank our associates for their hard work and dedication."                                                                               

Recent Articles by Brena Swanson

Comments powered by Disqus