The Home Depot IncHD
▲ PositiveCapitalrelevance
Beats revenue and profit expectations for the quarter.
Impact on stocks 1
Consumer Discretionary
The Home Depot IncHome Depot beats revenue and profit expectations for May-July quarter
Earnings
Home Depot, the major American home improvement retailer, reported on the 18th that its second quarter results for May through July beat market expectations on both revenue and profit. Revenue rose 5.7 percent from a year earlier to 47.86 billion dollars, exceeding the market forecast of 47.27 billion dollars compiled by LSEG, and adjusted earnings per share came to 4.92 dollars, above the market estimate of 4.73 dollars. Although demand for large-scale renovations remained weak because mortgage rates stayed high, steady demand for smaller repairs and maintenance such as painting and yard care supported performance. Comparable sales in the United States rose 1.3 percent, and overall comparable sales increased 1.7 percent, the strongest growth since the third quarter of 2022. Executive Vice President of Merchandising Billy Bastek said tariff refunds under the International Emergency Economic Powers Act totaled 730 million dollars in the second quarter, reducing cost of sales by 685 million dollars. The company left its full-year revenue and profit outlook unchanged, assuming that the tariff refunds can offset the impact of higher-than-expected cost increases such as fuel expenses.
The Home Depot IncBeats revenue and profit expectations for the quarter.