Home Depot (HD) Misses Q1 EPS by 5c, Revenues Miss; Updates Guidance

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Go back to Home Depot (HD) Misses Q1 EPS by 5c, Revenues Miss; Updates Guidance

Home Depot (HD) falls on miss, lower guidance; Soft results 'widely expected' says analyst

May 16, 2023 6:18 AM EDT

(Updated - May 16, 2023 7:57 AM EDT)

Shares of home improvement giant Home Depot (NYSE: HD) trade 2.3% lower in pre-open trading Tuesday following a miss in the current quarter and lower guidance for the year.

Sales for the first quarter fell 4.2% to $37.3 billion, missing the Wall Street consensus of $38.6 billion. EPS fell to $3.82 per share from $4.09 per share last year and missed the consensus of $3.87.

"After a three-year period of unprecedented growth for our sector, during which we grew sales by over $47 billion, we expected that fiscal 2023 would be a year... More