Distributors

HD Supply Tops 3Q Profit Forecasts

ATLANTA (AP) — HD Supply Holdings Inc. (HDS) on Tuesday reported fiscal third-quarter profit of $250 million.

The Atlanta-based company said it had profit of $1.24 per share. Earnings, adjusted for one-time gains and costs, were 66 cents per share.

The results topped Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 65 cents per share.

The industrial distributor posted revenue of $2.01 billion in the period, which fell short of Street forecasts. Six analysts surveyed by Zacks expected $2.03 billion.

For the current quarter ending in January, HD Supply expects its per-share earnings to range from 21 cents to 26 cents.

The company said it expects revenue in the range of $1.62 billion to $1.67 billion for the fiscal fourth quarter.

HD Supply shares have climbed almost 7 percent since the beginning of the year. The stock has increased slightly more than 4 percent in the last 12 months.

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