Welcome to our dedicated page for HDS news (Ticker: HDS), a resource for investors and traders seeking the latest updates and insights on HDS stock.
Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect HDS's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.
Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of HDS's position in the market.
Vertiv has appointed Giordano Albertazzi as the new COO and will succeed Rob Johnson as CEO on
On April 1, 2021, HD Supply Holdings announced a proposed settlement in a shareholder derivative action, which alleges breaches of fiduciary duty by individual defendants. This settlement aims to resolve claims from both a federal and a Delaware court. The hearing to approve the settlement is set for June 2, 2021, in Atlanta. All stockholders as of December 4, 2020, are advised to review the terms and consider their rights. The case arises from allegations of improper public statements and insider stock sales that purportedly wasted corporate assets.
HD Supply reported net sales of $827.5 million for Q3 2020, a slight increase of 0.3% from Q3 2019. However, gross profit decreased by 1.1% to $348.3 million, with a profit margin of 42.1%. Operating income fell 3.9% to $121.0 million. Notably, net income surged to $1.6 billion due to a $1.5 billion gain from selling its Construction & Industrial business. The company has a strong liquidity position at $2.75 billion as of Nov. 1, 2020. Following a planned acquisition by The Home Depot at $56 per share, the merger is set to close in Q4 2021.
HD Supply Holdings, Inc. (Nasdaq: HDS) is set to release its fiscal 2020 third-quarter earnings report on December 4, 2020. The company is one of North America's largest industrial distributors, serving approximately 300,000 customers with a wide array of products and services. With 44 distribution centers across 25 states and two Canadian provinces, HD Supply employs about 5,500 associates to deliver localized solutions. Notably, there will be no conference call following the earnings release, which may interest investors looking for direct management insights.
HD Supply Holdings (NASDAQ: HDS) announced a definitive agreement for The Home Depot, Inc. to acquire the company for $56 per share in cash. Both boards have unanimously approved the transaction, which is structured as a tender offer for all outstanding shares, followed by a merger. The acquisition aims to enhance benefits for customers and shareholders and is expected to be finalized in Home Depot's fiscal fourth quarter ending January 31, 2021, pending regulatory approval.
HD Supply Holdings reported second-quarter net sales of $1.6 billion, reflecting a 4.4% decline from the previous year. Gross profit decreased 5.8% to $596 million, with net income down 3.0% at $131 million. Despite these declines, net income per diluted share rose 2.5% to $0.81. The company experienced liquidity of $995 million, up $198 million from Q1 2020. Notably, HD Supply plans to sell its Construction & Industrial business for $2.9 billion, with net proceeds expected to be $2.5 billion. The company refrained from providing future guidance due to COVID-19.
HD Supply Holdings, Inc. (Nasdaq: HDS) will announce its fiscal 2020 second-quarter results on September 9, 2020, at 6 a.m. ET. The announcement will be followed by a conference call at 8 a.m. ET, accessible via webcast on the company's investor relations page. With a strong position in the industrial distribution sector, HD Supply serves approximately 500,000 customers from over 270 branches and 44 distribution centers in North America, supported by 11,500 associates.
Clayton, Dubilier & Rice announced an agreement to acquire HD Supply's Construction & Industrial business, known as White Cap, for approximately $4 billion. The combined entity will merge White Cap with the Construction Supply Group (CSG), creating a leading North American distributor specializing in concrete and construction products, with over $4 billion in annual revenue. Post-transaction, CD&R will hold a 65% ownership interest. The deal is anticipated to close by October 2020 and is subject to regulatory approvals.
HD Supply Holdings, Inc. (NASDAQ: HDS) has appointed Milford W. McGuirt to its Board of Directors, effective June 28, 2020. McGuirt, a former managing partner at KPMG, will contribute his extensive experience in public accounting and audit to the Audit and Nominating and Corporate Governance Committees. Additionally, the company concluded an SEC investigation without recommendations for enforcement actions, which reassures investors regarding regulatory clarity and compliance.
HD Supply Holdings, Inc. (HDS) reported net sales of $1.4 billion for Q1 2020, down 6.6% year-over-year. Gross profit decreased $35 million to $550 million, and net income fell 32.7% to $72 million. The company's combined liquidity increased to $797 million. Notably, Facilities Maintenance saw a 11.7% drop in net sales, while Construction & Industrial's net sales fell 1.1%. Preliminary sales in May continued to decline 7.3% year-over-year. The company provided no guidance for Q2 2020 due to the ongoing impact of COVID-19.
