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 ...

Key TakeawaysHome Depot shares dropped Tuesday despite a second-quarter earnings beat as the home-improvement giant lowered its 2024 comparable sales guidance.Home Depot now sees full-year comparable sales down 3% to 4% from fiscal 2023, worse than its previous guidance of a 1% decline.CEO Ted Decker said consumers continue to be pressured by higher interest rates and "greater macro-economic uncertainty." Home Depot (HD) shares fell despite an earnings beat Tuesday as the retailer projected a larger fiscal ...

Home Depot (HD) came out with quarterly earnings of $4.67 per share, beating the Zacks Consensus Estimate of $4.54 per share. This compares to earnings of $4.65 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 2.86%. A quarter ago, it was expected that this home-improvement retailer would post earnings of $3.61 per share when it actually produced earnings of $3.63, delivering a surprise of 0.55%.Over the last four quarters, the ...

Exhibit 99.1 The Home Depot Announces Second Quarter Fiscal 2024 Results; Updates Fiscal 2024 Guidance ATLANTA, August 13, 2024 -- The Home Depot , the world's largest home improvement retailer, today reported sales of $43.2 billion for the second quarter of fiscal 2024, an increase of 0.6% from the second quarter of fiscal 2023. Total sales include $1.3 billion from the recent acquisition of SRS Distribution Inc. (SRS), which represents approximately six weeks of sales in the quarter. Comparable sales for ...

The Home Depot logo is seen in Florida Keys, United States on May 7, 2024.Home Depot on Tuesday topped quarterly expectations, but cautioned that sales will be weaker than expected in the back half of the year as high interest rates and consumer uncertainty dampen demand.The home improvement retailer said it now expects full-year comparable sales to decline by 3% to 4% compared to the prior fiscal year. It had previously expected comparable sales, a metric that takes out the impact of store openings and clo ...

BLOOMSBURG, PENNSYLVANIA, UNITED STATES - 2024/05/19: An exterior view of a Home Depot home ... [+] improvement store. (Photo by Paul Weaver/SOPA Images/LightRocket via Getty Images)SOPA Images/LightRocket via Getty ImagesHome Depot (NYSE: HD) is scheduled to report its fiscal second-quarter results on Tuesday, August 13. We expect the company’s stock to likely trade higher with its revenues and earnings beating the market expectations marginally. The company’s stock has been almost flat since the beginning ...

Home Depot Inc. HD will be reporting its second-quarter earnings on Tuesday (Aug. 13). Wall Street expects $4.50 in EPS and $43.4 billion in revenues as the company reports before market hours.The stock is up 5.2% over the past year, 0.59% YTD.Let’s look at what the charts indicate for Home Depot stock and how the stock currently maps against Wall Street estimates.Home Depot Stock’s Strongly Bearish Trend Ahead Of Q2 Earnings Home Depot stock is currently navigating a choppy market, with its stock price of ...

sturti/E+ via Getty Images I like Home Depot (NYSE:HD) as a business and think their business model is hard to beat. Although I have never held their stock, I think it would make a great addition to a long-term portfolio. But that's nothing to say about what I think over the short to medium term. Over the next one-year time frame, I see some risks in the overall stock market and have been collecting a basket of cheap far OTM puts to protect my portfolio. The risks I see and the short-term outlook I have ...

This dominant company has done a fantastic job building wealth for its long-term shareholders.Investing is done well when it's viewed as a long-term game. Moreover, instead of looking at stocks like they're lines on a screen, investors need to realize that these represent actual businesses.Over the past few decades, very few companies have performed better for investors than this one. Since its initial public offering in September 1981, shares have generated a total return of 2,926,000%, turning a $1,000 in ...

Markets will get more results from large retailers next week with Home Depot (HD)  set to release its Q2 report on Tuesday, August 13.Investors will be hoping the home improvement retailer will be able to reach expectations and perhaps offer positive guidance with the average 30-year fixed mortgage rate currently at 6.47%, its lowest level in over a year.Image Source: Federal Reserve Economic DataQ2 Expectations for HDBased on Zacks estimates, Home Depot’s Q2 sales are expected to dip -1% to $42.62 billion ...