Distributors

HD Supply Beats Revenue Expectations

HD Supply Beats Revenue Expectations

ATLANTA (AP) — HD Supply Holdings Inc. (HDS) on Monday reported fiscal fourth-quarter net income of $92 million, after reporting a loss in the same period a year earlier.

The Atlanta-based company said it had profit of 52 cents per share. Earnings, adjusted for one-time gains and costs, came to 70 cents per share.

The results surpassed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 67 cents per share.

“I couldn’t be more proud of the team’s performance in 2018.  We delivered strong organic growth throughout the year, seamlessly integrated the A.H. Harris business and repurchased 15.5 million shares of common stock,” stated Joe DeAngelo, Chairman and CEO of HD Supply. “I’d like to thank our associates for the exceptional service they provide to our customers every day.”

The industrial distributor posted revenue of $1.45 billion in the period, also topping Street forecasts. Six analysts surveyed by Zacks expected $1.41 billion.

For the year, the company reported profit of $394 million, or $2.17 per share. Revenue was reported as $6.05 billion.

For the current quarter ending in May, HD Supply expects its per-share earnings to range from 75 cents to 84 cents.

The company said it expects revenue in the range of $1.47 billion to $1.52 billion for the fiscal first quarter.

HD Supply expects full-year earnings in the range of $3.52 to $3.81 per share, with revenue ranging from $6.3 billion to $6.45 billion.

HD Supply shares have risen 15 percent since the beginning of the year. The stock has risen 10 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on HDS at https://www.zacks.com/ap/HDS

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