Home Depot lower after missing Q1 estimates

|By:, SA News Editor

Home Depot (HD) reports comparable-store sales rose 2.6% in Q1, paced by a 3.3% comp in the U.S.

The company processed 344.5M transactions during the quarter, up 2.2% from a year ago. The average ticket rose 0.6% to $57.59.

EPS guidance for Q2 is raised to $4.42, inclusive of a $0.04 benefit from the sales of HD Supply stock.

Despite the earning miss, execs with Home Depot cite late quarter strength which rolled into Q2.

HD -2.0% premarket