Home Depot Inc (NYSE:HD) is scheduled to report earnings before the opening bell on Tuesday, and investors will be hoping an expectations beat can outweigh a weak housing market.
The hardware retailer is expected to post fiscal second-quarter revenue of $42.21 billion, down 3.6% year-over-year. Adjusted earnings are projected to be $4.44 per share, down 12.1%.
When Home Depot reported first-quarter results in May, it cut its revenue guidance for fiscal 2023 to a 2% to 5% decline in sales and comparable sales compared to fiscal 2022.
In June, the company reaffirmed that guidance at its annual investor and analyst conference, laying out what it called the “market stability base case”.
The base case involves the home improvement market growing by low single digits, leading to sales growth between 3% and 4% per year and mid-to-high-single-digit diluted EPS growth.
Home Depot shares climbed 0.5% higher Friday to $331.11.
Contact Andrew Kessel at andrew.kessel@proactiveinvestors.com
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