Home Depot expects revenue to surpass $100 billion in 2018
NEW YORK (AP) — Home Depot expects its revenue to surpass $100 billion in 2018 and backed its earnings and revenue outlook for the current year.
The home improvement retailer projects that revenue will rise 4.7 percent annually from the end of the 2015 fiscal year to about $101 billion in 2018. Analysts that follow the company had expected revenue of $101.8 billion in 2018, according to a survey by FactSet.
For the current fiscal year that ends next month, Home Depot backed its previous earnings outlook of $5.36 per share. That’s a penny above Wall Street expectations. Home Depot said it expects revenue to rise 5.7 percent from the year before, matching the 5.7 percent growth to $87.9 billion analysts expected.
In stores open at least a year, a key measure of a retailer’s financial health, Home Depot said it expects sales to rise about 4.9 percent this year.
The Atlanta company runs more than 2,200 stores.
Shares of The Home Depot Inc. slipped 20 cents to $133.73 in morning trading Tuesday. Its shares are still up about 27 percent since the beginning of the year. Late last month, the stock reached an all-time high of $135.47.