HD Supply Experiences a Sales Shortfall in Its Facilities Maintenance Unit
We plan to reduce HD Supply's fair value estimate to $32 from $34 following the company's second-quarter earnings release. After previously generating sales growth comfortably above the industry, the latest quarterly report was marred by a sales shortfall from poor inventory planning and a reduction in the 2016 earnings outlook. Notably, prior guidance for 6% sales growth and 1.5-2.0 times operating leverage was negatively revised to 3%-6% sales growth and 1.0-1.5 times operating leverage. Despi...HD Supply Holdings is a holding company. Through its subsidiaries, the company is an industrial distributor in North America. The company's segments include: Facilities Maintenance and Construction and Industrial. The company's Facilities Maintrnance segment distributes maintenance, repair and operations products, provides services and fabricates custom products. Products include electrical and lighting items, and plumbing, heating, ventilating, and air conditioning products. The company's Construction and Industrial segment distributes hardware, tools and materials to non-residential and residential contractors. Products include tilt-up brace systems, forming and shoring systems, concrete chemicals, and cutting tools.
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