Home Depot (HD): Beats Q1 Profit, Sales Expectations

Home Depot (HD) beat Q1 consensus: $0.41 vs. $0.37 est. EPS and $17.9 billion vs. $17.6 billion est. revenue. numbers are significant declines from last year. Same-store sales fell 6.5%, less than consensus of 7%. In the face of Lowe’s (LOW) uninspiring first quarter and the current housing slump, Home Depot’s restructuring efforts seem to be paying off. However, they still see difficult and uncertain business conditions ahead.

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