Home Depot Falls on Weak Guidance

Home Depot Falls on Weak Guidance Feb. 20, 2024, 11:48 a.m., readers: 11

Home Depot (NYSE:HD) unveiled its fourth-quarter earnings, posting an EPS of $2.82, which surpassed the analysts' prediction of $2.77. The company's quarterly revenue was $34.8 billion, above the expected $34.64 billion. However, Home Depot provided a full-year outlook that fell short of analysts' projections, indicating the anticipation of continued subdued demand. The company predicts a challenging year ahead, with homeowners expected to curb spending on home improvements due to persistent inflation. For 2024, Home Depot expects its comparable sales to drop by around 1%, in contrast to the slight increase of 0.06% anticipated by analysts. Following this announcement, the company's shares experienced a decline of more than 2% in premarket trading.

About NYSE: HD

T he Home Depot, Inc. operates as a home improvement retailer. It operates The Home Depot stores that sell various building materials, home improvement products, lawn and garden products, and décor products, as well as facilities maintenance, repair, and operations products The company also offers installation services for flooring, cabinets and cabinet makeovers, countertops, furnaces and central air systems, and windows. In addition, it provides tool and equipment rental services.

Price: 334.83
Market cap: 331.8 billion USD
Eps: 15.11
P/e ratio: 22.16
Focus Analysis On: HD
All news about: HD