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Home Depot fiscal Q4 profit climbs 31.3% YOY

Home Depot Inc. said its normalized net income for the fiscal fourth quarter ended Feb. 1 came to 99 cents per share, compared with the S&P Capital IQ consensus estimate of 89 cents per share.

EPS climbed 39.0% year over year from 71 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $1.30 billion, an increase of 31.3% from $989.4 million in the year-earlier period.

The normalized profit margin increased to 6.7% from 5.6% in the year-earlier period.

Total revenue increased 8.3% on an annual basis to $19.16 billion from $17.70 billion, and total operating expenses grew 6.6% year over year to $16.99 billion from $15.94 billion.

Reported net income grew 35.1% on an annual basis to $1.38 billion, or $1.05 per share, from $1.02 billion, or 73 cents per share.

For the year, the company's normalized net income totaled $4.62 per share, compared with the S&P Capital IQ consensus normalized EPS estimate of $4.49.

EPS rose 25.1% from $3.69 in the prior year.

Normalized net income was $6.22 billion, a gain of 17.5% from $5.29 billion in the prior year.

Full-year total revenue rose 5.5% on an annual basis to $83.18 billion from $78.81 billion, and total operating expenses grew on an annual basis to $72.74 billion from $69.65 billion.

The company said reported net income grew 17.6% year over year to $6.34 billion, or $4.71 per share, in the full year, from $5.39 billion, or $3.76 per share.