Home Depot Beats Q1 Earnings Expectations, but Revenue Falls Short as Customers Delay Renovation Projects from real mom son kitchen se Watch Video

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✓ Published: 15-May-2024

Description:
Home Depot reported first-quarter earnings that beat expectations, but revenue missed estimates. The company saw softer sales as high interest rates caused customers to defer large home renovation projects like kitchen and bathroom remodels. Comparable sales dropped over 2% across the business and declined more than 3% in the US compared to the prior year period. Weather also negatively impacted spring sales of outdoor products as many parts of the country experienced colder and wetter conditions. Home Depot reaffirmed its full-year guidance but expected comparable sales to decline.