Home Depot Q2 Earnings Preview: Earnings Estimates, What Analysts Are Saying And Key Metrics To Watch
Portfolio Pulse from Chris Katje
Home Depot Inc (NYSE:HD) is set to report its Q2 financial results. Analysts expect a revenue of $42.25 billion, down from last year's $43.79 billion. The company has missed revenue estimates for the last two quarters. Earnings per share are expected to be $4.44, down from $5.05 last year. Analysts have mixed opinions on the stock's future, with some downgrading it due to a weak housing market and cautious consumer spending. Home Depot's fiscal 2023 guidance predicts a 2-5% sales decrease year-over-year. The company's shares are currently trading at $329.87, up 4.5% year-to-date.
August 14, 2023 | 6:54 pm
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NEUTRAL IMPACT
Lowe's Companies, along with Home Depot, was downgraded by Telsey Advisory Group earlier this month. However, Lowe's shares are up 13.3% year-to-date in 2023 and up 8.4% over the last year.
While Lowe's was downgraded by Telsey Advisory Group, the company's shares have been performing well, with a 13.3% increase year-to-date in 2023 and an 8.4% increase over the last year. This could balance out the potential negative impact of the downgrade.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
NEGATIVE IMPACT
Home Depot is expected to report a decrease in revenue and earnings per share for Q2. The company's fiscal 2023 guidance predicts a 2-5% sales decrease. The stock has been downgraded by some analysts due to a weak housing market and cautious consumer spending.
The expected decrease in revenue and earnings per share, along with the company's prediction of a sales decrease in fiscal 2023, could negatively impact the stock. Additionally, some analysts have downgraded the stock due to a weak housing market and cautious consumer spending.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100