Home Depot Stock News

On a call with CNBC, Home Depot CFO Richard McPhail said consumers are waiting for a Federal Reserve interest rate cut and expect one to come soon. The home improvement retailer has been hurt by higher interest rates, which have slowed housing turnover and demand for bigger projects.

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 Ch...

Home Depot currently gets around half of its sales from professional builders and contractors. According to the company's executives on Tuesday's (Aug.

Beaten down by high interest rates, home-improvement demand has been sluggish for some time. But investors in Home Depot HD 1.06%increase; green up pointing triangle are playing the long game.

Home Depot Inc (NYSE:HD, ETR:HDI) saw weaker consumer spending on home improvement during the second quarter but still managed to deliver sales and profits above Wall Street estimates.   Sales for Q2 were $43.2 billion, up 0.6% from the year-ago quarter and ahead of estimates of $42.6 billion.

HD stock Q2 results beat estimates, but the weak retail environment and margin pressure are concerning. The company lowered its guidance on gross and operating margins. I expect the margin to keep being squeezed from both ends with higher  operating expenses and weakened demand in the next 1~2 years.

Home Depot stock is choppy Tuesday as investors parse the retailer's Q2 earnings beat and downwardly revised comparable sales forecast.

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.