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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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
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