Home Depot Inc (NYSE:HD) stock is the latest Dow component to announce third-quarter results.
Home Depot NYSE: HD is moving higher on the combined forces of outperformance and an expectation for tailwinds to develop in 2025. Better-than-expected consumer trends, acquisitions, and the pro-business drive outperformance in 2024, leading the company to improve guidance against a backdrop of negative sentiment.
Home Depot Inc (NYSE:HD, ETR:HDI) reported third-quarter sales of $40.2 billion, marking a 6.6% increase compared to the same period in 2023. Comparable sales, however, dropped by 1.3% year-over-year.
Home Depot's stock gained in early trading on Tuesday after the home improvement giant reported better-than-expected third-quarter earnings and raised its profit forecast for the year. The increase in sales was partly driven by higher spending following severe weather in the southeastern US.
CNBC's Courtney Reagan joins 'Squawk Box' to report on the company's quarterly earnings results.
Home Depot (HD) came out with quarterly earnings of $3.78 per share, beating the Zacks Consensus Estimate of $3.64 per share. This compares to earnings of $3.81 per share a year ago.
Home Depot (HD) shares rose Tuesday morning after its third-quarter results came in above estimates and the retailer also lifted fiscal 2024 sales projections.
“While macroeconomic uncertainty remains, our third quarter performance exceeded our expectations,” said Ted Decker, chair, president and CEO, in prepared remarks. “
Third-quarter adjusted earnings of $3.78 a share beat estimates as sales rise to $40.2 billion.
Home Depot raised its annual same-store sales forecast on Tuesday, betting on resilient demand from professional contractors to offset weak spending on bigger projects such as kitchen renovations.
Home Depot is reporting earnings before the bell. The home improvement retailer is mired in a sales slump after high interest rates and mortgage rates forced consumers to put off major projects.
We have narrowed our search to three giant retailers that will report earnings results within next week. These are: HD, WMT, TGT.