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Home Depot Plans $15 Billion Buyback after Polar Vortex and Government Shutdown Hit Earnings

Home Depot Plans $15 Billion Buyback after Polar Vortex and Government Shutdown Hit Earnings

February 26, 2019

Via: Fortune

Home Depot Inc. plans to buy back as much as $15 billion of stock after quarterly earnings fell short of analysts’ expectations, casting doubt on a growth story that has lifted the stock 50 percent in the past three years.

Fourth-quarter earnings per share were $2.09, the retailer said. Analysts had estimated $2.16. Same-store sales rose 3.2 percent, trailing estimates of 4.5 percent.

Key Insights

With its fourth-quarter disappointment, Home Depot joined a host of other retailers. The results came amid a historic cold snap in the U.S., where it generates more than 90 percent of its sales, and a shutdown of the federal government.

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