COBB COUNTY (dpa-AFX) - The Home Depot, Inc.(HD), a home improvement retailer, on Tuesday revised down its annual earnings growth guidance to reflect less-than expected third-quarter earnings performance, lack of storm activity, ongoing consumer uncertainty, housing pressure, and the inclusion of GMS.
However, the company has revised up its total sales growth guidance for the year.
For the full year, the company now expects around a 6% drop in net income per share from last year. The prior guidance was for a decline of 3%.
The company now projects a 5% drop in annual adjusted income per share from the prior year. The earlier guidance was for a decline of 2%.
For the full year, Home Depot, however, now projects total sales growth of around 3% from last year. The prior outlook was for a growth of 2.8%.
For fiscal 2024, the company had posted a net income of $14.91 per share, with an adjusted profit of $15.24 per share, on net sales of $159.514 billion.
HD was down by 3.18% at $346.90 in the pre-market trade on the New York Stock Exchange.
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