HD Supply sales climbed 6 percent in 2015
HD Supply Holdings reported net sales of $7.3 billion for the full-year fiscal 2015, an increase of 6.0 percent compared to fiscal 2014.
"I am extremely pleased with the team's performance in fiscal 2015. We delivered 6 percent net sales growth, 13 percent Adjusted EBITDA growth and Adjusted Net Income per Diluted Share of $1.74, despite a challenging and uncontrollable environment," said Joe DeAngelo, chairman and CEO of HD Supply. "We focused on what we could control and delivered strong profitable growth in excess of market, operating leverage and cash flow.”
Net income of $1.47 billion compared to $3 million for the full-year fiscal 2014. Net income for 2015 included a $1.0 billion tax benefit resulting from the reversal of a deferred tax asset valuation allowance and a $189 million non-cash tax credit from the settlement of an IRS audit, a $186 million pre-tax gain on the sale of the Power Solutions business unit and $100 million loss on debt payments. Net income per diluted share increased to $7.31 for 2015, compared to 2 cents for 2014.
For the fourth quarter, net sales increased 6.8 percent to $1.65 billion, compared to $1.54 billion for the fourth quarter of fiscal 2014.
Net income of $871 million for the fourth quarter compared to a $93 million net loss for the fourth quarter of fiscal 2014. Net income per diluted share increased to $4.33 for the quarter, compared to a 48 cents net loss per diluted share for the fourth quarter of fiscal 2014.
For the Facilities Maintenance segment, net sales increased 8.2 percent to $606 million in the fourth quarter, compared to $560 million for the fourth quarter of fiscal 2014.
In the Waterworks segment, net sales increased 3.3 percent to $533 million in the quarter, compared to $516 million for the fourth quarter last year.
For the Construction & Industrial – White Cap segment, net sales increased 12.1 percent to $399 million in the quarter, compared to $356 million for the same period last year.