Home improvement retailer Home Depot Inc. (NYSE:HD) could provide a look at how the industry is performing when the company reports third-quarter financial results on Tuesday before the market opens.
Here are the earnings estimates, what experts are saying ahead of the report and key items to watch.
Earnings Estimates: Analysts expect Home Depot to report third-quarter revenue of $41.14 billion, up from $40.22 billion in last year’s third quarter, according to data from Benzinga Pro.
The company has beaten analyst estimates for revenue in six of the last 10 quarters overall, missing estimates in the most recent second quarter.
Analysts expect Home Depot to report third-quarter earnings per share of $3.85, up from $3.78 in last year’s third quarter. The company has missed analyst earnings-per-share estimates in two straight quarters, while beating estimates in eight of the previous 10 quarters overall.
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What Experts Are Saying: Bank of America Securities analyst Robert F. Ohmes expects Home Depot to report comparable sales growth of 1.3%, noting strong trends in August and a soft October.
The analyst maintained a Buy rating and a $450 price target ahead of the earnings report.
Ohmes highlighted the company’s Pro segment with the acquisition of Gypsum Management & Supply in September, which adds more products and offerings for customers.
High mortgage rates and weak home sales turnover are trends to watch, noted by the analyst.
Freedom Capital Markets Chief Market Strategist Jay Woods also noted the slow housing market and
Home Depot Q3 Preview: Will Housing Weakness And Costly Mortgages Pressure The Retailer?
