Home Depot (HD:NYSE)

Last update - 15 November 2023 By James Woods

Current holding within the value component of the US Growth Portfolio, Home Depot (HD) has announced Q3 earnings results overnight, with shares rallying 5.4%.

While the company faces a challenging economic environment, the results were better than analysts had anticipated.

For the 2024 fiscal year, Home Depot forecasts a dip in comparable sales and overall revenue, projecting a decrease of 3-4% in both metrics, in line with estimates. Management expected 2023 earnings per share to contract between 9-11% compared to previous forecasts of 7-13%. This slowdown has been widely expected after demand was pulled forward following the pandemic. Management did not provide guidance for the 2024 financial year.

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