Home Depot Inc (NYSE:HD, ETR:HDI) reported mixed earnings for the first quarter but reaffirmed its full-year forecast amid tariff-related uncertainty.
Revenue increased 9.4% year-over-year to $39.9 billion, ahead of Wall Street estimates of $39.3 billion.
Same-store sales decreased 0.3%, slightly worse than the anticipated 0.2% decline, although US same-store sales saw a 0.2% increase.
Adjusted earnings per share (EPS) of $83.45 fell from $3.63 in the year-ago quarter, missing the consensus of $3.59.
"Our first quarter results were in line with our expectations as we saw continued customer engagement across smaller projects and in our spring events," Home Depot CEO Ted Decker said in a statement.
"We feel great about our store readiness and product assortment as spring continues to break across the country, and I would like to thank our associates for their continued hard work and dedication."
For the full year, the company said it continues to expect 2.8% growth in net sales and about 1% growth in same-store sales.
It also projects adjusted EPS to decline about 2% from $15.24 in fiscal 2024.
Management said during the company’s earnings call that Home Depot does not plan to raise prices on most of its items in response to the tariffs, but said some products may see increases and others will be removed from shelves.
“We don’t see broad-based price increases for our customers at all going forward,” Home Depot executive vice president of merchandising Billy Bastek said on the earnings call. “There are items that we have that could potentially be impacted from a tariff that, candidly, we won’t have going forward.”