
Home Depot’s Q2 2023 Earnings Surpass Expectations amid Sales Dip
Despite the favorable revenue surprise, Home Depot saw a moderated fiscal year earnings projection implying that the corporation remains cautious about the road ahead.
Despite the favorable revenue surprise, Home Depot saw a moderated fiscal year earnings projection implying that the corporation remains cautious about the road ahead.
The recent plunge caused by the fiscal Q4 2022 financial performance has caused Home Depot to lose almost 2% in its stock price in the last five days.
Home Depot says its Q1 2022 financial report suggests that consumers are still willing to spend money on home renovations and repairs.
During the fourth quarter, Home Depot reported earnings of $3.21 per share and announced a 15% dividend increase.
Home Depot’s Earnings Per Share came in at $3.18 against the $3.06 expected from analysts. The retailer’s total sales surged by 24% from the year-ago period.
Home Depot (HD) stock price fell as the company reported poor earnings due to extra costs related to the coronavirus pandemic. However, sales were stronger than expected.