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Home Depot fiscal Q1 profit climbs 13.1% YOY

Home Depot Inc. said its normalized net income for the fiscal first quarter ended May 4 came to 99 cents per share, compared with the S&P Capital IQ consensus estimate of 98 cents per share.

EPS climbed 21.5% year over year from 82 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $1.37 billion, a gain of 13.1% from $1.21 billion in the year-earlier period.

The normalized profit margin climbed to 6.9% from 6.3% in the year-earlier period.

Total revenue rose on an annual basis to $19.69 billion from $19.12 billion, and total operating expenses increased from the prior-year period to $17.41 billion from $17.03 billion.

Reported net income increased 12.2% from the prior-year period to $1.38 billion, or $1 per share, from $1.23 billion, or 83 cents per share.