IAG fails on bids to acquire Norwegian Air

Home Depot’s stock down premarket after sales miss

Home Depot Inc.

HD, +0.40%

launched its first-quarter monetary outcomes earlier than the market opened Tuesday. Here’s what you could know.

PROFIT: The home-improvement retailer made $2.four billion, or $2.08 a share, up 19% from the $2.01 billion, or $1.67 a share, it made throughout the identical quarter a 12 months in the past.

REVENUE: Net sales rose four.four% to $24.95 billion. Analysts polled by Thomson Reuters had been anticipating income of $25.15 billion. Cost of sales rose three.eight% to $16.33 billion.

SAME-STORE SALES: Home Depot mentioned comparable-store sales rose four.2% and U.S. comparable-store sales rose three.9%. Analysts polled by Consensus Metrix had been anticipating same-store sales to rise by 5.6% and U.S. same-store sales to rise by 5.5%.

EXPENSES: Total working bills rose 9% to $5.24 billion.

GUIDANCE: The firm mentioned it expects sales to extend by about 6.7% for the 12 months. In the corporate’s fourth-quarter earnings outcomes, it mentioned it anticipated sales for 2018, together with the 53rd week, to rise by about 6.5%. Home Depot mentioned in its newest earnings report it expects comparable-sales in 2018 to rise by about 5%.

Shares fell 2.1% premarket. In the previous 12 months, they’ve climbed 21%.

Write to Allison Prang at [email protected]

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