A customer wears a wood protective mask onto a cart at a Home Depot store in Pleasanton, California, on Monday, February 22, 2021.
David Paul Morris | Bloomberg | beautiful pictures
Home Depot Tuesday will report third-quarter earnings and Wall Street will be watching to see if macroeconomic headwinds are hitting the retailer.
Consumers are facing persistent inflation, with rising costs hitting segments like food and housing particularly hard. Home Depot – just like the competition by Lowethird-quarter earnings report on Wednesday – likely to provide insight into whether consumers are still spending on home renovations and improvements.
Here’s what Wall Street expects Home Depot to report on Tuesday, based on a survey of analysts by Refinitiv:
- Earnings per share: $4.12 expected
- Turnover: 37.96 billion dollars expected
Last quarter, Home Depot beat analysts’ expectations, reporting that they still see continued strong demand for home improvement projects. At the time, the company left its forecast unchanged and said sales at comparable stores for the full year were expected to grow about 3%, although it forecast a slowdown in the second half. five.
In August, management said the backlog of projects remained steady, despite a weaker housing market. Executives said at the time that customers were not yet dealing with cheaper items.
Home Depot, like Lowe’s, in the second quarter note Strong sales from professionals including contractors, plumbers and electricians. It’s a change from the early stages of the pandemic, when many consumers stayed home during the lockdown and invested in upgrading their living space.
This is breaking news. Please check back for updates.
