The Home Depot, Inc. (NYSE: HD) earned $0.30 per share in the quarter that ended on 3 May 2009, up from $0.21 last year. This quarter was the first of the company's fiscal 2009.
We had estimated earnings of $0.33.
If charges related to store closings (and stores not opened) are excluded from both periods, Home Depot reports that earnings per diluted share would be $0.35 and $0.41, respectively, in the first quarters of 2009 and 2008.
We will post a thorough evaluation soon.
The spreadsheet below compares the actual results to our Income Statement model of Home Depot. Please note that our arrangement of data may differ in material respects from the company's presentation.
http://sheet.zoho.com/public/ncarvin/hd-income-statement-2009q1?mode=html
Full disclosure: Long HD at time of writing.
19 May 2009
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