HD Supply (NASDAQ:HDS) delivered a profit and beat Wall Street’s expectations, BUT came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are down 8.36%.
Quoting Management: “We continue to deliver above market revenue growth in all of our primary business units,” stated Joe DeAngelo, CEO of HD Supply. “The fiscal 2013 second quarter was another strong performance for HD Supply despite limited non-residential and municipal end market growth in addition to unusually cooler and wetter weather affecting outdoor construction and HVAC product sales in various parts of the country. We continue to deliver on our controllable execution and growth initiatives to drive growth regardless of the market environment.”
Key Stats (on next page)…
Revenue increased 9.14% from $2.07 billion in the previous quarter.
Looking Forward: For the current year, the average estimate is a profit of $0.76 over the last ninety days.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)