:max_bytes(150000):strip_icc()/GettyImages-2217275847-576a4f2f7af44a1da914ba296c06ff8e.jpg "Home Depot Holds Outlook Steady as the Retailer Sees Momentum in Demand")
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Key Takeaways
- Home Depot reiterated its full-year guidance as it sees demand for home projects growing.
- The biggest home-improvement retailer said momentum that started late last year continued.
- Home Depot reported mixed second-quarter financial results.
Home Depot (HD) shares advanced 2% in premarket trading after the biggest home-improvement retailer affirmed its guidance as do-it-yourself and large project demand increased.
The company reiterated its full-year outlook for sales rising about 2.8%, and comparable store sales growth of approximately 1.0%.
CEO Ted Decker said that the “momentum that began in the back half of last year continued throughout the first half as customers engaged more broadly in smaller home improvement projects.” In an interview, CFO Richard McPhail added that the company saw comparable sales increase every month in the quarter.
The comments came as Home Depot reported mixed second-quarter results. Sales gained 4.9% year-over-year to $45.28 billion, a tick higher than estimates of analysts surveyed by Visible Alpha. Adjusted earnings per share of $4.68 narrowly missed forecasts.
Comparable store sales were 1.0% higher, and while that was a tick below expectations, it was well above last year’s decline of 3.3%. Comparable average tickets advanced 1.4%, compared to a drop of 1.3% in 2024.
Shares of Home Depot entered Tuesday up less than 2% year-to-date.
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