Spring Chill: Home Depot's Q1 Numbers Dip, But CEO Ted Decker Sees Sunshine Ahead
Portfolio Pulse from Shivani Kumaresan
Home Depot Inc (NYSE:HD) reported a Q1 FY24 sales decline of 2.3% Y/Y to $36.418 billion, missing analyst estimates. Customer transactions and comparable sales also fell. Despite a decrease in gross profit and operating income, EPS of $3.63 beat estimates. The company reiterated its FY24 EPS and sales outlook, slightly below consensus estimates. Shares rose 0.60% in premarket trading.
May 14, 2024 | 11:39 am
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Home Depot reported a decline in Q1 FY24 sales and operating income but beat EPS estimates. The company remains optimistic, reiterating its FY24 outlook.
The mixed Q1 FY24 results with a sales decline and lower operating income could concern investors, but the EPS beat and optimistic outlook by the CEO may balance sentiments. The slight premarket share price increase indicates a neutral to slightly positive short-term impact.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100