The Home Depot second quarter sales up 6.6 percent

The Home Depot second quarter net earnings were $2.4 billion. Reaffirmed fiscal 2016 sales guidance and expects sales.

home depot second quarterThe Home Depot®, the world’s largest home improvement retailer, today reported sales of $26.5 billion for the second quarter of fiscal 2016, a 6.6 percent increase from the second quarter of fiscal 2015. Comparable store sales for the second quarter of fiscal 2016 were positive 4.7 percent, and comp sales for U.S. stores were positive 5.4 percent.

Net earnings for the second quarter of fiscal 2016 were $2.4 billion, or $1.97 per diluted share, compared with net earnings of $2.2 billion, or $1.73 per diluted share, in the same period of fiscal 2015. For the second quarter of fiscal 2016, diluted earnings per share increased 13.9 percent from the same period in the prior year.

We had a solid quarter, achieving the highest quarterly sales and net earnings results in company history as housing continues to be a tailwind for our business. This was made possible by our hard working associates in their continued dedication to our customers” said Craig Menear, chairman, CEO and president

Updated Fiscal 2016 Guidance

The Company reaffirmed its fiscal 2016 sales guidance and expects sales will be up approximately 6.3 percent and comp sales will be up approximately 4.9 percent. The Company raised its diluted earnings-per-share guidance for the year and now expects diluted earnings per share to grow approximately 15.6 percent from fiscal 2015 to $6.31.