Home Depot (HD) has received quite a bit of attention from Zacks.com users lately. Therefore, it is wise to be aware of the facts that can impact the stock's prospects.
HD's Q3 results reflect continued gains from the Pro category, SRS contributions and incremental hurricane-related sales. A robust outlook drives its momentum.
It only has a tiny fraction of this massive market but just took a very big step to take more share.
Home Depot's Q3 performance exceeded expectations, driven by hurricane-related sales and the integration of SRS Distribution, leading to an upward revision of FY24 guidance. Despite positive Q3 results, high interest rates and elevated mortgage rates continue to defer larger remodeling projects, posing a significant headwind for Home Depot's growth. The SRS acquisition appears promising, contributing significantly to sales and aligning with Home Depot's strategy to emphasize the Pro segment, though its full impact will take time.
The company looks well positioned to rebound next year.
Home Depot CEO Ted Decker joins CNBC's 'Squawk Box' to discuss the company's most recent earnings, raised outlook, and more.
Ted Decker, The Home Depot president and CEO, joins CNBC's 'Squawk Box' after reporting quarterly results.
Ted Decker, The Home Depot president and CEO, on the progress made to lower inflation.
Home Depot's major acquisition is boosting the business as home improvement demand remains slow. The retailer announced it was acquiring SRS Distribution, a company that sells supplies to roofing, pool and landscaping professionals, for $18.25 billion in March and closed the deal in June.
Recently, we heard from home improvement giant Home Depot, whose results can provide us a nice read-through of what to expect from a close peer, Lowe's, in its upcoming quarterly release.
Note: The following is an excerpt from this week's Earnings Trends report. You can access the full report that contains detailed historical actual and estimates for the current and following periods, please click here>>>