Home Depot reaffirms guidance amid 'frozen housing market conditions'

Home Depot reported second fiscal quarter results that beat Wall Street expectations on the top and bottom lines.

Home Depot reaffirms guidance amid 'frozen housing market conditions'

TL;DR

  • Home Depot's fiscal second-quarter earnings and revenue exceeded Wall Street expectations.
  • The company reaffirmed its full fiscal-year guidance, citing a 'frozen housing market' and consumer hesitancy regarding large projects.
  • Despite market conditions, Home Depot reported positive comparable sales growth and market share gains, especially in its pro business.
  • Fiscal second-quarter adjusted earnings per share were $4.92, versus $4.73 expected, and revenue was $47.86 billion, versus $47.27 billion expected.
  • The company received $730 million in tariff refunds, largely used to reduce the cost of goods sold.
  • CEO Ted Decker is taking a temporary medical leave of absence, with Ann-Marie Campbell overseeing U.S. stores and operations, and Richard McPhail managing financial and pro business aspects.