Home Depot will report its earnings before the bell : Rashtra News
#Home #Depot #report #earnings #bell
A shopper leaves a Home Depot with merchandise that she purchased on August 17, 2021 in Alexandria, Virginia.
Alex Wong | Getty Images
Home Depot will report its fourth-quarter earnings on Tuesday, as the retailer gears up for spring and tries to capitalize on housing demand.
Here’s what Wall Street is expecting, based on a survey of analysts by Refinitiv:
- Earnings per share: $3.18 expected
- Revenue: $34.87 billion expected
The home improvement retailer has been a clear winner during the pandemic, but it has other dynamics working in its favor. Millennials, the country’s largest generation, are moving into their first homes or into bigger homes, even as some Baby Boomers, the second largest generation, decide to age in place. That’s squeezing supply and driving real estate prices higher. The country’s aging housing stock is causing more repair, maintenance and renovation projects, too — as is more wear-and-tear from Americans spending more time working remotely.
Yet some investors wonder if home improvement’s hot streak can continue as retailers lap a period of government stimulus, raise prices because of inflation and compete with other spending priorities like dining out and vacation.
Home Depot has not shared an outlook for the last fiscal year or the upcoming year, saying the backdrop is too uncertain.
The company recently announced a change in leadership. Company veteran and Chief Operating Officer Ted Decker will step into the role of CEO, as of March 1. Outgoing CEO Craig Menear will continue to serve as chair of the board.
As of Friday’s close, Home Depot shares are up 24% over the past 12 months and have outperformed the broader market. The S&P 500 is up about 11% over the past year. Shares closed on Friday at $346.87, down less than 1%. The company’s market value is $362.22 billion.
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( News Source :Except for the headline, this story has not been edited by Rashtra News staff and is published from a www.cnbc.com feed.)
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