Home Depot is about to report earnings. Here’s what to expect

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  • Wall Street analysts surveyed by Refinitiv expect Home Depot to report earnings per share of $3.40 on revenue of $35.01 billion.
  • The retailer reported growth last year, but Wall Street expects it to slow in the quarter.
  • The company’s shares have risen 38 percent this year, giving it a market value of $389 billion.

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Home Depot is expected to report its fiscal third-quarter earnings before the bell on Tuesday.

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Here’s what analysts surveyed by Refinitiv are expecting:

  • Earnings Per Share: $3.40 Expected
  • Revenue: $35.01 billion expected

The home improvement retailer reported an increase in sales a year ago as the pandemic fueled more projects doing it. But Wall Street is expecting more muted results this quarter, predicting that the boom in home projects is waning. Analysts expect same-store sales to increase by only 2.2%, according to StreetAccount estimates.

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Still, a strong housing market has helped Home Depot and rival Lowe’s. There is increasing demand from home professionals, who are helping meet the low demand for do-it-yourself projects.

Like other retailers, Home Depot faced several headwinds during the quarter, including a surge in new Covid-19 cases due to the Delta version, supply chain issues and a labor crisis. Investors will be watching closely to see if the company can maintain its profit margins despite those challenges.

Home Depot hasn’t provided a forecast for the full year, but Wall Street expects earnings per share to rise 22.6% and revenue growth of 11%.

The company’s shares are up 38% this year, giving it a market value of $388 billion.

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