Home Depot is also giving its staff a $1,000 bonus after tax cuts
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Home Depot Inc said it would give its U.S. employees a new one-time cash bonus of up to $1,000 for hourly associates in the fourth quarter as the home improvement store chain takes advantage of changes in the U.S. tax code.
The company said it expects to incur a net tax expense of about $150 million in the fourth quarter, related to taxes on un remitted offshore earnings.
The company said it would revise its 2017 diluted earnings per share guidance lower by about 19 cents to reflect cash bonuses and the charge.
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(Reuters reporting by Sangameswaran S in Bengaluru; Editing by Saumyadeb Chakrabarty)
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