Exhibit 99.1

 

GRAPHIC

 

Investor Contact:

Charlotte McLaughlin

HD Supply Investor Relations

770-852-9100

InvestorRelations@hdsupply.com

 

Media Contact:

Quiana Pinckney

HD Supply Public Relations

770-852-9057

Quiana.Pinckney@hdsupply.com

 

HD Supply Holdings, Inc. Announces Fiscal 2019 First-Quarter Results

 

ATLANTA, GA — June 11, 2019

— HD Supply Holdings, Inc. (NASDAQ: HDS), one of the largest industrial distributors in North America, today reported Net sales of $1.5 billion for the first quarter of fiscal 2019 ended May 5, 2019, an increase of $104 million, or 7.5 percent, as compared to the first quarter of fiscal 2018.  Organic sales growth for the first quarter of fiscal 2019 was 5.8 percent, as compared to the first quarter of fiscal 2018.

 

“The team overcame significant unfavorable weather in February to deliver on our promises during the first quarter of 2019,” stated Joe DeAngelo, Chairman and CEO of HD Supply. “In this current dynamic environment, we are intensely focused on what we can control, delivering profitable growth and executing on our capital allocation strategy.”

 

Gross profit increased $33 million, or 6.0 percent, to $585 million for the first quarter of fiscal 2019, as compared to $552 million for the first quarter of fiscal 2018. Gross profit was 39.2 percent of Net sales for the first quarter of fiscal 2019, down approximately 50 basis points from 39.7 percent for the first quarter of fiscal 2018.

 

Operating income increased $19 million, or 12.6 percent, to $170 million for the first quarter of fiscal 2019, as compared to $151 million for the first quarter of fiscal 2018. Operating income was 11.4 percent of Net sales for the first quarter of fiscal 2019, up approximately 50 basis points from 10.9 percent for the first quarter of fiscal 2018.

 

Net income increased $18 million, or 20.2 percent, to $107 million for the first quarter of fiscal 2019, as compared to $89 million for the first quarter of fiscal 2018. Net income per diluted share increased $0.15, or 31.3 percent, to $0.63 in the first quarter of fiscal 2019, as compared to $0.48 in the first quarter of fiscal 2018.

 

Adjusted EBITDA increased $13 million, or 6.8 percent, to $203 million for the first quarter of fiscal 2019, as compared to $190 million for the first quarter of fiscal 2018. Adjusted EBITDA was 13.6 percent of Net sales for the first quarter of fiscal 2019, down approximately 10 basis points from 13.7 percent for the first quarter of fiscal 2018.

 

Adjusted net income increased $13 million, or 10.0 percent, to $143 million for the first quarter of fiscal 2019, as compared to $130 million for the first quarter of fiscal 2018.  Adjusted net income per diluted share increased $0.14, or 20.0 percent to $0.84 in the first quarter of fiscal 2019, as compared to $0.70 in the first quarter of fiscal 2018.

 

As of May 5, 2019, HD Supply’s combined liquidity of $580 million was comprised of $40 million in cash and cash equivalents and $540 million of additional available borrowings (excluding $6 million of borrowings on available cash balances) under HD Supply, Inc.’s senior asset-based lending facility, based on qualifying inventory and receivables.

 

1


The following information was filed by Hd Supply, Inc. on Tuesday, June 11, 2019 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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