Home Depot Stock News

Home Depot reported better than expected sales during the prior three months as consumers relied on its products to help them recover from Hurricanes Helene and Milton.

The Home Depot's focus on the professional market remains unwavering, even as U.S. consumers curb their home improvement splurges. That was the latest from the Atlanta-based retailer's executives as they shared the company's third-quarter 2024 earnings Tuesday (Nov. 12).

Home Depot Inc   (NYSE:HD) stock is the latest Dow component to announce third-quarter results.

Home Depot NYSE: HD is moving higher on the combined forces of outperformance and an expectation for tailwinds to develop in 2025. Better-than-expected consumer trends, acquisitions, and the pro-business drive outperformance in 2024, leading the company to improve guidance against a backdrop of negative sentiment.

Home Depot Inc (NYSE:HD, ETR:HDI) reported third-quarter sales of $40.2 billion, marking a 6.6% increase compared to the same period in 2023. Comparable sales, however, dropped by 1.3% year-over-year.

Home Depot's stock gained in early trading on Tuesday after the home improvement giant reported better-than-expected third-quarter earnings and raised its profit forecast for the year. The increase in sales was partly driven by higher spending following severe weather in the southeastern US.

Home Depot (HD) shares rose Tuesday morning after its third-quarter results came in above estimates and the retailer also lifted fiscal 2024 sales projections.

“While macroeconomic uncertainty remains, our third quarter performance exceeded our expectations,” said Ted Decker, chair, president and CEO, in prepared remarks. “