Residence Depot (HD) earnings Q3 2022

Residence Depot on Tuesday will report third-quarter earnings, and Wall Road might be looking out for whether or not macroeconomic headwinds are hitting the retailer.

Customers have been dealing with ongoing inflation, with rising prices hitting segments like meals and housing particularly onerous. Residence Depot — in addition to competitor Lowe’s, which stories its third-quarter earnings Wednesday — are possible to offer perception into whether or not customers are nonetheless spending on renovations and do-it-yourself house enhancements.

This is what Wall Road is anticipating Residence Depot to report on Tuesday, based mostly on a survey of analysts by Refinitiv:

• Earnings per share: $4.12 anticipated
• Income: $37.96 billion anticipated

Final quarter, Residence Depot beat analyst expectations, reporting that it nonetheless noticed continued energy in demand for house enchancment tasks. On the time, the corporate stood by its forecast and mentioned comparable retailer gross sales for the complete 12 months have been anticipated to develop about 3%, regardless of a projected slowdown within the second half of the 12 months.

In August, administration mentioned venture backlogs have been nonetheless wholesome, regardless of the weaker housing market. Executives mentioned on the time prospects weren’t but buying and selling all the way down to cheaper gadgets.

Residence Depot, in addition to Lowe’s, throughout the second quarter famous robust gross sales from professionals together with contractors, plumbers and electricians. It is a shift from the early levels of the pandemic, when many customers have been house throughout lockdown and invested in upgrading their residing areas.

That is breaking information. Please verify again for updates.