Home Depot (HD) Tops Q2 EPS by 19c; Reaffirms, Announces $15B Buyback
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Home Depot (NYSE: HD) reported Q2 EPS of $4.65, $0.19 better than the analyst estimate of $4.46. Revenue for the quarter came in at $42.9 billion versus the consensus estimate of $42.2 billion.
The company reaffirmed fiscal 2023 guidance:
- 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
Share Repurchase Authorization
The board of directors also authorized a new $15 billion share repurchase program effective August 15, 2023, replacing its previous authorization.
For earnings history and earnings-related data on Home Depot (HD) click here.
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