HD Supply Posts Strong Fourth-Quarter Results to Close Out a Transformative 2017
Fiscal 2017 was a transformative year for HD Supply. The narrow-moat industrial distributor sold its Waterworks business for $2.5 billion and used the proceeds to finally rightsize its previously debt-ridden balance sheet. With a healthy balance sheet, HD Supply was able to return cash to shareholders for the first time, and the company spent $541 million to repurchase approximately 17 million shares or about 9% of the firm’s fiscal 2016 diluted share count. HD Supply ended fiscal 2017 with stro...
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