Home Depot Stock News

Home 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.

Home Depot, the largest home improvement retailer in the US, reported better-than-expected earnings for the second quarter of 2023, showcasing resilience in a challenging economic environment.

A recent survey of 2,000 Americans found that three in five believe the US is currently in a recession despite the fact that government data show the economy is growing.

Home Depot (HD) shares fell despite an earnings beat Tuesday as the retailer projected a larger fiscal 2024 comparable store sales decrease than it had previously.

Home Depot's sales are expected to dip again as the retailer grapples with low demand and uncertainty surrounding its latest acquisition.

Shares of Home Depot Inc. HD, -0.81% dropped 2.8% in premarket trading Tuesday, after the home improvement retail giant reported fiscal second-quarter earnings that beat expectations but comparable sales that missed and lowered its full-year outlook. Net income for the quarter to July 28 fell to $4.56 billion, or $4.60 a share, from $4.66 billion, or $4.65 a share, in the same period a year ago.

Home Depot forecast a decline in annual profit and a bigger drop in its annual comparable sales on Tuesday, as hopes of a recovery in demand for home improvement projects fall due to higher borrowing costs.

Home Depot expects sales to weaken as consumers grow more cautious