HD Supply Beats 2Q Profit Forecasts

ATLANTA (AP) — HD Supply Holdings Inc. (HDS) on Wednesday reported fiscal second-quarter profit of $109 million.

On a per-share basis, the Atlanta-based company said it had profit of 54 cents. Earnings, adjusted for one-time gains and costs, came to 56 cents per share.

The results beat Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of 55 cents per share.

The industrial distributor posted revenue of $2.01 billion in the period, which missed Street forecasts. Eight analysts surveyed by Zacks expected $2.07 billion.

For the current quarter ending in November, HD Supply expects its per-share earnings to range from 63 cents to 68 cents.

The company said it expects revenue in the range of $2 billion to $2.05 billion for the fiscal third quarter.

HD Supply shares have climbed 13 percent since the beginning of the year. The stock has risen 20 percent in the last 12 months.

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