Home Depot Reports $3.78 EPS, Lifts Full-Year Sales and EPS Guidance; Shares Rise

Nov 12, 2024, 11:06 AM

Home Depot reported third-quarter earnings that surpassed analysts' expectations, with adjusted earnings per share of $3.78 compared to the estimated $3.66, though diluted EPS declined 3.7% year-over-year. Revenue reached $40.22 billion, exceeding the forecasted $39.29 billion and marking a 6.6% year-over-year increase. The company raised its full-year sales outlook, now expecting sales growth of 4%, up from the previous range of 2.5% to 3.5%, and improved its EPS guidance to a decline of 1%, better than the earlier forecasted decline of 2% to 4%. Home Depot attributed the improved performance to increased consumer engagement in seasonal goods and outdoor projects. Following the earnings announcement, shares rose in pre-market trading.