Home Depot (HD 1.62%) has been an amazing stock for investors who have bought and held for the long term. Although it's not a growth stock, it has outperformed the market, and by a wide margin.
In its most recently reported quarter, Home Depot (HD 1.62%) managed to turn in positive same-store sales for the first time since the third quarter of 2022, breaking its ugly streak of declining comparable-store sales. Same-store sales are an important metric for retailers, as it shows how existing stores are performing.
Home Depot (HD 1.62%) has been experiencing a multiyear slowdown. Its latest earnings report and commentary from the earnings call suggest that Home Depot will not see a recovery in the housing market or home improvement projects anytime soon.
Many famous peers are in the market, with Lowe's LOW and Home Depot HD reflecting one of those notable pairings. We've recently received quarterly results from each, with both stocks seeing fair reactions post-earnings.
Yesterday, Home Depot reported its results for both the fourth quarter and fiscal year 2024. On paper, these earnings will bode very well for Home Depot investors.
Shares of Home Depot Inc HD were climbing in early trading on Wednesday, after the company reported upbeat fourth-quarter results.
Investors are getting more insight into the strength of the consumer and the home building market as Home Depot released its Q4 results this morning with Lowe's report scheduled for Wednesday, February 26.
Home Depot says customers are also using financing to fund the projects.
Housing turnover is limited. Mortgage rates are elevated.
Home Depot broke a two-year slump in same store sales during the fourth quarter as customer demand improved in a housing market that has been buffeted by soaring mortgage rates and a scarcity of homes up for sale.Revenue for the Atlanta company climbed to $39.7 billion from $34.79 billion. Analysts polled by FactSet were calling for $39.15 billion.Home Depot Inc. said Tuesday that the extra week in the quarter added approximately $2.5 billion in sales for the period.Sales at stores open at least a year, a key indicator of a retailer's health, edged up 0.8%.
Home Depot started to see more engagement in the home improvement space. Lowe's could benefit, too.
The Home Depot has been making strategic investments to strengthen its position in the professional market, geared toward its digital and in-store offerings. The company's initiatives are designed to deliver greater value and convenience to its pro customers, fueling growth despite a challenging macroeconomic environment.