Home Depot shares rally on earnings beat, even as home improvement sales level off
Publishing timestamp: 2023-11-14 10:21:50
Summary
Home Depot reported fiscal third-quarter earnings and revenue that exceeded expectations. However, the company's sales declined 3% from the previous year, and its full-year outlook indicated caution. Despite this, Home Depot's shares rose nearly 6% as trends started to normalize after the Covid pandemic. The company has faced challenges due to elevated mortgage rates and high inflation. While some customers have scaled back on major projects, Home Depot's CFO stated that the company's customers remain financially healthy and engaged in home improvement.
Sentiment: MIXED
Tickers: HD,
Keywords: business, breaking news: earnings, business news, retail industry, home depot inc, breaking news: business, earnings,
Source: https://www.cnbc.com/2023/11/14/home-depot-hd-q3-2023.html