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MarketScreener Homepage  >  Equities  >  Nyse  >  The Home Depot, Inc.    HD

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

Stocks mentioned in the article
ChangeLast1st jan.
RISE, INC. 19.23% 31 End-of-day quote.3.33%
THE HOME DEPOT, INC. 0.63% 267.87 Delayed Quote.22.66%
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Financials (USD)
Sales 2021 116 B - -
Net income 2021 10 909 M - -
Net Debt 2021 28 920 M - -
P/E ratio 2021 26,2x
Yield 2021 2,22%
Capitalization 288 B 288 B -
EV / Sales 2021 2,74x
EV / Sales 2022 2,66x
Nbr of Employees 415 700
Free-Float 60,1%
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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 32
Average target price 260,30 $
Last Close Price 267,87 $
Spread / Highest target 12,0%
Spread / Average Target -2,83%
Spread / Lowest Target -31,3%
EPS Revisions
Managers
NameTitle
Craig A. Menear Chairman, President & Chief Executive Officer
Richard V. McPhail Chief Financial Officer & Executive Vice President
Matthew A. Carey Chief Information Officer & Executive VP
Paul Antony Senior Vice President-Technology
Fahim Siddiqui Senior Vice President-Information Technology
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