Home Depot Shares Are Trading Lower Tuesday: What You Need To Know
Portfolio Pulse from Vaishali Prayag
Home Depot shares are trading lower following Pool Corporation's announcement of revised 2024 earnings guidance, which highlights a significant slowdown in discretionary pool spending. Pool Corporation expects a 15% to 20% decline in new pool construction and remodeling activities in 2024 due to a challenging macroeconomic environment. This has led to a downward revision in Pool Corporation's earnings per share guidance. The news has negatively impacted Home Depot, a major supplier of home improvement and building materials.
June 25, 2024 | 6:40 pm
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NEGATIVE IMPACT
Home Depot shares are down 3.71% following Pool Corporation's revised 2024 earnings guidance, which indicates a significant slowdown in discretionary pool spending. This has negatively impacted Home Depot, a major supplier of home improvement and building materials.
Home Depot is a major supplier of home improvement and building materials, and a slowdown in pool construction and remodeling activities directly impacts its sales. The revised earnings guidance from Pool Corporation has led to a negative sentiment around Home Depot's stock.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Pool Corporation has revised its 2024 earnings guidance downward due to a significant slowdown in discretionary pool spending. The company now expects a 15% to 20% decline in new pool construction and remodeling activities, leading to lower expected sales and earnings per share.
Pool Corporation's revised earnings guidance reflects a significant slowdown in discretionary pool spending, which is expected to impact its sales and earnings negatively. This has led to a downward revision in its earnings per share guidance, indicating a challenging macroeconomic environment.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100