Home Depot May Be Setting Itself Up To Nail Future Estimates: Analyst Says Home Improvement Retailer 'Knows How To Manage Expectations'
Portfolio Pulse from Adam Eckert
Home Depot Inc (HD) beat earnings estimates for Q2 2023, despite a 2% YoY decrease in revenue to $42.92 billion. The company reaffirmed its guidance for a comparable sales decline between 2% and 5% for full-year 2023 due to broad-based pressure across the business. However, Oppenheimer analyst Brian Nagel believes the company is setting itself up for a recovery in the years ahead, with home improvement trends expected to improve in 2024 and 2025.
August 15, 2023 | 8:33 pm
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Home Depot beat Q2 earnings estimates and reaffirmed its guidance for a sales decline in 2023. However, the company is expected to recover in 2024 and 2025.
Despite a decrease in revenue, Home Depot managed to beat earnings estimates, which could have a positive impact on investor sentiment. However, the reaffirmation of a sales decline for 2023 might offset this positive sentiment. The company's outlook for recovery in 2024 and 2025 could potentially drive long-term investor interest.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100