Home Depot Inc says $2.38 EPS est. may be low
ATLANTA, April 8 (Reuter) - Home Depot's chief financial officer said Tuesday he is "comfortable" with Wall Street's concensus earnings per share forecast of $2.38 for the year to January 30, 1998, but uggested the figure is low.
"We are comfortable in that it is in the low end of the range," CFO Marshall Day told Reuters after he spoke to the annual obinson-Humphrey Co Inc institutional conference in Atlanta. But he added he was more comfortable "with the higher end of the range", which was $2.43 per share.
Day declined to be more specific. Year earlier earnings were $1.94 per share.
During his presentation to analysts, Day said the company's 18-year track record "supports the superior earnings per share growth estimates" made by Wall Street analysts.
The number of Home Depot's stores would increase 22 percent this year to 512 and they would more than double to 1,100 by 2000.
"We're going to double the size of the company," he said.
President and chief operating officer Arthur Blank said the number of stores in Canada, now 25, would increase 20 to 25 percent a year over the next five years.
"We're making money throughout Canada," Blank added.
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Watch for another waves of EPS upgrade coming soon.
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