Overview
- Revenue totaled $4.27 billion versus roughly $4.31 billion expected, as comparable sales rose 3.3% on a constant-currency basis against estimates near 5.6%.
- Shares fell about 8.6% in premarket trading to approximately $3,550 following the release.
- Adjusted EPS was $27.63, topping consensus, and the company said EPS would have increased about 7.1% year over year excluding the non-cash LIFO charge.
- Gross margin declined 137 basis points to 52.5% and operating income slipped 1.2% to $698.5 million, with net income reported at about $468.9 million.
- Domestic commercial sales grew 9.8% as domestic comps rose 3.4% and international comps 2.5%, with leadership noting winter storm impacts and asserting share gains in Mexico and Brazil.