Home Depot Raises FY24 Sales Guidance From $154.20B To $156.49B-$158.01B Vs $158.88B Est
Portfolio Pulse from Benzinga Newsdesk
Home Depot has raised its FY24 sales guidance to $156.49B-$158.01B, up from $154.20B, but still below the $158.88B estimate. The company expects total sales to increase by 2.5%-3.5%, with a 53rd week adding $2.3B. Comparable sales are projected to decline by 3%-4%. The guidance includes 12 new stores, a gross margin of 33.5%, and an operating margin rate of 13.5%-13.6%. The 53rd week is expected to contribute $0.30 to diluted EPS, which is projected to decline by 2%-4%.
August 13, 2024 | 10:05 am
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Home Depot has raised its FY24 sales guidance to $156.49B-$158.01B, up from $154.20B, but still below the $158.88B estimate. The company expects total sales to increase by 2.5%-3.5%, with a 53rd week adding $2.3B. Comparable sales are projected to decline by 3%-4%.
The raised guidance is a positive sign, but it still falls short of the $158.88B estimate, which may temper investor enthusiasm. The projected decline in comparable sales and EPS could also weigh on the stock.
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