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Home Depot: Housing is Strong, Recovering

Home Depot, a housing bellwether, reported a good quarter this morning and gave us a glimpse into the state of US housing and the recovery.  Here are some highlights:

  • Same store comps were up 4.8% in the US. ¬†
  • EPS beat by 6 cents at 0.83 vs estimates for 0.77.
  • HD CEO says housing is recovering:

“In the first quarter, we saw less favorable weather compared to last year, but we continue to see benefit from a recovering housing market that drove a stronger-than-expected start to the year for our business,”

  • Sales are expected to rise 2.8% next year.
  • Full year EPS was raised to $3.52 from the previous estimate of $3.37.

 

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