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Posted December 6, 2016

HD Supply 3Q sales up 3.4 percent

HD Supply said its fiscal third quarter net sales of $2.0 billion increased 3.4 percent compared to the third quarter of fiscal 2015.


"We delivered growth and solid cash conversion in the third quarter and are focused on building momentum for the 2017 selling season," stated Joe DeAngelo, chairman and CEO of HD Supply.

Gross profit increased $35 million, or 5.4 percent, to $683 million for the third quarter of fiscal 2016 as compared to $648 million for the third quarter of fiscal 2015. Gross profit was 34.0 percent of net sales for the third quarter of fiscal 2016, up approximately 60 basis points from 33.4 percent of Net sales for third quarter of fiscal of 2015.

Net income decreased $190 million, or 76.0 percent, to $60 million for the third quarter of fiscal 2016 as compared to $250 million for the third quarter of fiscal 2015. Net income per diluted share decreased to 30 cents for the third quarter of fiscal 2016, as compared to $1.24 for the third quarter of fiscal 2015. Net income in the third quarter of fiscal 2016 included a $59 million loss incurred as a result of the extinguishment of debt. Net income in the third quarter of fiscal 2015 included a $186 million pre-tax gain from the sale of the Power Solutions business and an $100 million loss incurred as a result of the extinguishment of debt.

Adjusted net income increased 28.2 percent to $168 million for the quarter, compared to $131 million for the third quarter of fiscal 2015. Adjusted net income per diluted share was 83 cents for the third quarter, compared to 65 cents for the third quarter of fiscal 2015.

By segment, Facilities Maintenance net sales increased 1.1 percent to $724 million for the quarter,  compared to $716 million for the third quarter of fiscal 2015. 

Waterworks net sales increased 4.0 percent to $733 million for the quarter, compared to
$705 million for the third quarter of fiscal 2015. 

Construction & Industrial – White Cap net sales increased 5.7 percent to $499 million,  compared to $472 million for the third quarter of fiscal 2015. 

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