Home Depot Boosts FY24 Sales Growth Outlook - Update

Home Depot

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Kaufen / Verkaufen

(RTTNews) - While reporting financial results for the third quarter on Tuesday, home improvement retailer Home Depot Inc. (HD) now expects earnings and adjusted earnings decline at the low end of the prior forecast, while raising sales growth outlook for the full-year 2024.

For fiscal 2024, the company now projects earnings per share to decline of about 2 percent and adjusted earnings per share to decline of about 1 percent on a sales growth of about 4 percent, with comparable sales decline of about 2.5 percent from last year.

Previously, the company expected earnings per share to decline 2 to 4 percent and adjusted earnings per share to decline 1 to 3 percent on a sales growth of 2.5 to 3.5 percent, comparable sales decline of 3 to 4 percent from last year.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $14.82 per share on a sales growth of 3.1 percent to $157.38 billion for the year. Analysts' estimates typically exclude special items.

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