Home Depot Releases Quarterly Earnings

Nov 14, 2023 By MarketDepth

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Home Depot (HD:NASD) announces lower sales as homeowners are scaling back on home renovations. Sales are down 3.10% but still higher than analysts’ expectations which came in at 3.31%. The shining light came in with higher revenue at $37.71 billion compared to estimates at $37.70 billion. The company is seeing an increase of 5% in their digital sales sector.

Home Depot has seen some ups and downs on the year but has held there value with only being down about 15% on the year. The stock is up 6% intraday on the positive results.

Home Depot is seeing strength in roofing, insulation and portable power tools but flooring, countertops, and cabinets are seeing less activity.