fell 2.8% in premarket action Tuesday, after the home-improvement retailer reported fiscal fourth-quarter earnings and revenue that were weaker than expected. Net income for the quarter ended Feb.
3 were $2.3 billion, or $2.09 a share, from $1.8 billion, or $1.52 a diluted share, in the same period a year ago. The FactSet consensus for earnings per share was $2.16. Revenue rose 10.9% to $26.5 billion, below the FactSet consensus of $26.578 billion, as U.S. same-store sales rose 3.7%, which was below expectations of 4.3% growth.
The company said fourth-quarter results were hurt by a pre-tax charge of approximately $247 million, or $184 million after tax, equating to 16 per share a diluted share. Separately, the company increased its dividend 32% to $1.36 a share, and announced a $15 billion share buyback. Home Depot shares are up 10.6% year to date, compared against a gain of about 10.6% in for the S&P 500 index
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