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THE HOME DEPOT, INC

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Home Depot : Cuts Sales Forecast, Posts Slightly Lower Profit

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08/20/2019 | 07:05am EDT

By Kimberly Chin

Home Depot Inc. lowered its sales forecast as the company warned that rising material costs as well as the potential effects of tariffs on U.S. consumers could weigh on growth.

The home-improvement retailer said fiscal 2019 sales growth would increase by 2.3%, down from its previous guidance of 3.3%. Same-store sales are projected to grow by about 4%, 1 percentage point lower than its previous forecast. The company affirmed its earnings guidance.

Despite positive signs of a stable housing market, lumber-price deflation is expected to negatively affect sales growth, the company said.

Overall sales rose 1.2% for the quarter to $30.84 billion from a year ago. Analysts projected sales of $31 billion, according to FactSet.

The number of customer transactions was flat from a year ago while average ticket prices, or the amount of money customers spent per visit, rose 1.7%. Same-store sales -- a common metric in retail based on revenue at stores open at least one year -- rose 3%. Analysts expected a 3.3% rise.

Home Depot said second-quarters earnings were $3.48 billion, or $3.17 a share, down from $3.51 billion, or $3.05 a share, a year earlier, primarily due to higher expenses. Expenses rose 1.3% in the quarter. Analysts projected earnings of $3.09 a share.

Shares of Home Depot rose 0.8% premarket on low trading volumes.

Write to Kimberly Chin at kimberly.chin@wsj.com

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Financials (USD)
Sales 2020 111 B
EBIT 2020 15 960 M
Net income 2020 11 102 M
Debt 2020 28 260 M
Yield 2020 2,43%
P/E ratio 2020 22,2x
P/E ratio 2021 20,5x
EV / Sales2020 2,48x
EV / Sales2021 2,37x
Capitalization 246 B
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Technical analysis trends THE HOME DEPOT, INC
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 34
Average target price 226,72  $
Last Close Price 224,67  $
Spread / Highest target 19,7%
Spread / Average Target 0,91%
Spread / Lowest Target -24,3%
EPS Revisions
Managers
NameTitle
Craig A. Menear Chairman, President & Chief Executive Officer
Carol B. Tomé Chief Financial Officer & EVP-Corporate Services
Matthew A. Carey Chief Information Officer & Executive VP
Gregory D. Brenneman Lead Independent Director
Armando M. Codina Independent Director
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