Home Depot's Q2 Performance: Revenue Dip, New Stock Buyback And More
Portfolio Pulse from Shivani Kumaresan
Home Depot Inc (NYSE:HD) reported a 2% decline in Q2 FY23 sales to $42.92 billion, beating analyst consensus. Customer transactions and comparable sales both fell by 2%. Gross profit declined 2.3% Y/Y to $14.2 billion, and operating income fell 8.6% to $6.6 billion. The company also announced a new $15 billion share repurchase program. For FY23, Home Depot expects sales and comparable sales to decline by 2% - 5%, and an EPS decline of 7% - 13%.
August 15, 2023 | 12:18 pm
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NEGATIVE IMPACT
Home Depot's Q2 results show a decline in sales and profits, but beat analyst expectations. The company also announced a new share buyback program, indicating confidence in its stock. However, the FY23 outlook is negative, with expected declines in sales and EPS.
Home Depot's Q2 results, while showing a decline, beat analyst expectations, which could have a positive short-term impact. The announcement of a new share buyback program also indicates the company's confidence in its stock, which could further boost investor sentiment. However, the negative outlook for FY23, with expected declines in sales and EPS, could have a negative impact on the stock in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100