The Home Depot, Inc. (NYSE:HD) Q2 2024 Results Conference Call August 13, 2024 9:00 AM ET Company Participants Isabel Janci - Vice President of Investor Relations and Treasurer Ted Decker - Chair, President and CEO Ann-Marie Campbell - Senior Executive Vice President Billy Bastek - Executive Vice President, Merchandising Richard McPhail - Executive Vice President and Chief Financial Officer Chip Devine - Senior Vice President-Outside Sales Conference Call Participants Scot Ciccarelli - Truist Seth Sigman - ...

U.S. stocks traded higher midway through trading, with the S&P 500 gaining around 1% on Tuesday.The Dow traded up 0.42% to 39,522.57 while the NASDAQ rose 1.68% to 17,063.04. The S&P 500 also rose, gaining, 1.02% to 5,399.03.Leading and Lagging SectorsInformation technology shares climbed by 2.3% on Tuesday.In trading on Tuesday, energy shares fell 1.2%.Top HeadlineThe Home Depot, Inc. HD reported mixed results for its second quarter on Tuesday.HD reported second-quarter 2024 sales growth of 0.6% year-over- ...

Home Depot currently gets around half of its sales from professional builders and contractors.According to the company’s executives on Tuesday’s (Aug. 13) second-quarter 2024 earnings call, the world’s largest home improvement retailer will need to continue to win over a greater share of this valuable B2B segment, because regulator customers are continuing to spend less on home improvement projects, pressured by higher interest rates and concerns that the economy is getting worse.“During the quarter, higher ...

About this content About Emily Jarvie Emily began her career as a political journalist for Australian Community Media in Hobart, Tasmania. After she relocated to Toronto, Canada, she reported on business, legal, and scientific developments in the emerging psychedelics sector before joining Proactive in 2022. She brings a strong journalism background with her work featured in newspapers, magazines, and digital publications across Australia, Europe, and North America, including The Examiner, The Advocate, ...

Group 1: Home Depot Analysis - Home Depot is a significant stock as the largest home improvement retailer, providing insights into consumer sentiment and is a component of the Dow Jones Industrial Average [3] - Home Depot's stock experienced a 20% pullback from its high in March to its low in May, and the recent rally has formed a double top pattern, indicating a negative outlook [3] - The company forecasts FY24 comparable sales to decline by 3% to 4%, a revision from a previous estimate of a 1% decline, signaling a weakening consumer [3] - Home Depot reported adjusted EPS of $4.67, exceeding the consensus of $4.49, and revenues of $43.18 billion, slightly above the consensus of $43.06 billion [3] - The Producer Price Index (PPI) data suggests that inflation may be higher than indicated, with core PPI coming in at 0.0% versus a 0.2% consensus, which could compress profit margins and negatively impact future earnings [3] Group 2: Market Trends and Money Flows - Positive money flows were observed in major tech stocks including Apple, Amazon, Alphabet, Meta, Microsoft, NVIDIA, and Tesla [4] - Mixed money flows were noted in SPDR S&P 500 ETF Trust and Invesco QQQ Trust, indicating varied investor sentiment in these ETFs [5] Group 3: Investment Strategies - Investors are advised to maintain long-term positions while considering a protection band strategy that includes cash or Treasury bills to hedge against market volatility [7] - A traditional 60/40 portfolio strategy may not favor long-duration bonds at this time, suggesting a focus on high-quality bonds with shorter durations [8]

M. SuhailHD stock Q2 recap I last wrote on The Home Depot, Inc. (NYSE:HD) about three months ago. As you can see from the chart below, that article was titled "Home Depot: Don't Buy The Recent Dip (Technical Analysis)" and was published by Seeking Alpha on April 30, 2024. The article recommended a HOLD rating on the stock. And as the title suggests, the analysis was more focused on the technical trading patterns. More specifically, I cautioned that: Despite recent corrections HD stock has suffered, I wo ...

Home Depot (NYSE:HD) stock is a little volatile but mostly flat this morning after the company reported stronger-than-expected second-quarter financial results but reduced its full-year sales and profit guidance. The retailer noted that its performance was negatively impacted by “higher interest rates and greater macroeconomic uncertainty.”Home Depot’s Q2 Results and Guidance CutsThe company’s revenue increased 0.7% last quarter versus the same period a year earlier to $43.2 billion. The latter figure was w ...

For the quarter ended July 2024, Home Depot (HD) reported revenue of $43.18 billion, up 0.6% over the same period last year. EPS came in at $4.67, compared to $4.65 in the year-ago quarter.The reported revenue compares to the Zacks Consensus Estimate of $42.57 billion, representing a surprise of +1.41%. The company delivered an EPS surprise of +2.86%, with the consensus EPS estimate being $4.54.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expec ...

Home Depot TodayHDHome Depot$344.50 -1.31 (-0.38%) 52-Week Range$274.26▼$396.87Dividend Yield2.61%P/E Ratio23.11Price Target$384.00Add to WatchlistHome Depot NYSE: HD is a high-quality business in no danger of failure, but its stock price will likely head lower now that the Q2 results and guidance are in. The guidance was improved, but factors including acquisitions, organic declines, and cautionary statements raise serious doubts about the results for the next two to four quarters. Doubts and questions abo ...

Home Depot warned that consumer sentiment on the economy is souring as it slashed its sales forecast for the second half of the year.The big box home improvement chain on Tuesday blamed high interest rates and fears of a possible downturn in the economy for disappointing second-quarter earnings.Richard McPhail, Home Depot’s chief financial officer, told CNBC on Tuesday that consumers have adopted a “deferral mindset” since the middle of last year, resulting in lower spending on home-improvement projects. 3 ...