The Home Depot, Inc. (NYSE:HD) released its earnings report for the third quarter of the year this morning before the market opened on Wall Street. The company showed earnings of 95 cents per share for the three month period. Revenue came in at $19.47 billion. Home Depot shares were trading strongly up in pre-market as a result of the earnings.
In the run-up to the release of these earnings numbers analysts studying The Home Depot, Inc. (NYSE:HD) were looking for earnings of 90 cents per share. Revenue was expected to come in at $19.1 billion. The consensus numbers were gathered from a Bloomberg survey of 24 analysts following the company.
Home Depot earnings
In the same three months of 2012 The Home Depot, Inc. (NYSE:HD) managed to earn 74 cents per share on revenue totaling $18.1 billion. The company’s earnings boomed this time around as same store sales jumped.
Today’s earnings report saw the company raise its outlook for the full year on top of its expectations beat. The company is now looking for earnings of $3.72 per share for the full financial year 2013. The company previously guided for full year earnings of $3.60 per share.
Home Depot performance
Shares in The Home Depot, Inc. (NYSE:HD) have performed quite well through 2013. Since January 1 the company’s shares have added more than 28% to their value. That’s a little ahead of the performance of the S&P 500 in the same period. That index has gained close to 26% since the year began.
The firm’s shares are currently trading at more than 23 times 2012 earnings. That means the market is expecting earnings growth in the coming quarters.
Executives at The Home Depot, Inc. (NYSE:HD) will host a conference call in order to discuss this morning’s earnings release at 9:30 AM EST this morning. The firm’s shareholders and the analysts following it will want to know about the firm’s outlook for the winter months and its hopes for 2014.