HomeArticlesHome Depot Earnings Recap

Home Depot Earnings Recap

PUBLISHED  | UPDATED 1 year ago | 1 min read

Maria Schrater

Contributor

During the pandemic, the lockdown orders boosted Home Depot (HD) as people turned their attention—and stimulus money—to DIY projects and fixes. Now, inflation and interest rates remain high, keeping people locked into their lower rates and less likely to move. However, the rising financial pressure is pushing these kinds of projects to the back burner. Home Depot saw customer transactions, comparable sales, and the average ticket fall year-over-year in the first quarter and reported a miss on revenue estimates. The company cited a lack of the aforementioned larger discretionary projects, but also blamed a late start to spring.

However, the company reaffirmed its full-year guidance, and CEO Ted Decker said Home Depot is still growing market share. The company also has yet to close on SRS Distribution, which it agreed to acquire for $18.25 billion in March, its biggest deal ever. SRS Distribution provides roofing materials and building supplies, which would allow Home Depot to push further into the contractors and professionals market. Overall, the market doesn’t seem unhappy with the report—shares are up slightly before the bell.

Featured clips

Morning Minute: Tuesday, May 14

MORNING MINUTE

► Play video

What Will The Market React To Once Earnings Season Is Over?

TRADING 360

► Play video

U.S. Recession Is Delayed, Not Derailed

THE WATCH LIST

► Play video

Five9 (FIVN) CEO On A.I. Adoption

MARKET ON CLOSE

► Play video

Charles Schwab and all third parties mentioned are separate and unaffiliated, and are not responsible for one another's policies, services or opinions.

ON AIR
5:00 pm
Next Gen Investing
education
5:00 am
Your First Trade
REPLAY
education
5:30 am
Your First Trade
REPLAY
6:00 am
The Wrap
REPLAY
education
7:00 am
Your First Trade
REPLAY
education
7:30 am
Your First Trade
REPLAY
8:00 am
Market Overtime
REPLAY
9:00 am
Market Overtime
REPLAY
education
9:30 am
Inside the Mind of a Trader
REPLAY
education
10:00 am
Inside the Mind of a Trader
REPLAY
education
10:30 am
Inside the Mind of a Trader
REPLAY
11:00 am
The Wrap
REPLAY
12:00 pm
Morning Movers
1:00 pm
Morning Trade Live
3:00 pm
Trading 360
4:00 pm
Fast Market
ON AIR
5:00 pm
Next Gen Investing
6:00 pm
The Watch List
7:00 pm
Market On Close
8:30 pm
Market Overtime
REPLAY
9:00 pm
Fast Market
REPLAY
10:00 pm
Next Gen Investing
REPLAY
11:00 pm
The Wrap
REPLAY
12:00 am
The Watch List
REPLAY
1:00 am
The Wrap
REPLAY
2:00 am
Market Overtime
REPLAY
2:30 am
Market Overtime
REPLAY
3:00 am
Fast Market
REPLAY
4:00 am
Next Gen Investing
REPLAY

Schwab Network's Newsletters

Daily insights for every investor