Home Depot (HD) Misses Q1 EPS by 5c, Revenues Miss; Updates Guidance
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Home Depot (NYSE: HD) reported Q1 EPS of $3.82, $0.05 worse than the analyst estimate of $3.87. Revenue for the quarter came in at $37.3 billion versus the consensus estimate of $38.6 billion.
Fiscal 2023 Guidance
"Given the negative impact to first quarter sales from lumber deflation and weather, further softening of demand relative to our expectations, and continued uncertainty regarding consumer demand, we are updating our guidance to reflect a range of potential outcomes," said Richard McPhail, executive vice president and chief financial officer.
The company is providing the following updated guidance for fiscal 2023:
- Sales and comparable sales to decline between 2% and 5% compared to fiscal 2022
- Operating margin rate to be between 14.3% and 14.0%
- Tax rate of approximately 24.5%
- Interest expense of approximately $1.8 billion
- Diluted earnings-per-share-percent-decline between 7% and 13% compared to fiscal 2022
For earnings history and earnings-related data on Home Depot (HD) click here.
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