Home Depot Misses Earnings

The housing market has taken another casualty. Today, Home Depot (HD) reported earnings of 73 cents a share, two cents below estimates. Overall revenues rose 11.3%, but same-store sales dropped 5.1%.

Going forward, Home Depot said it believes its fiscal 2006 earnings per share will grow 4 percent to 5 percent over fiscal 2005 and that sales will grow for the year by about 12 percent. It had earlier projected earnings per share growth for the year to be on the low end of a range of 10 percent to 14 percent and sales growth for the year to be on the low end of a range of 14 percent to 17 percent.

Posted by on November 14th, 2006 at 9:55 am


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