What to expect when Home Depot reports third-quarter earnings

Home Depot connected Tuesday volition study third-quarter earnings, and Wall Street volition beryllium connected the lookout for whether macroeconomic headwinds are hitting the retailer.

Consumers person been facing ongoing inflation, with rising costs hitting segments similar nutrient and lodging particularly hard. Home Depot — arsenic good arsenic rival Lowe's, which reports its third-quarter net Wednesday — are apt to supply penetration into whether consumers are inactive spending connected renovations and do-it-yourself location improvements.

Here's what Wall Street is expecting Home Depot to study connected Tuesday, based connected a survey of analysts by Refinitiv:

• Earnings per share: $4.12 expected
• Revenue: $37.96 cardinal expected

Last quarter, Home Depot bushed expert expectations, reporting that it inactive saw continued spot successful request for location betterment projects. At the time, the institution stood by its forecast and said comparable store income for the afloat twelvemonth were expected to turn astir 3%, contempt a projected slowdown successful the 2nd fractional of the year.

In August, absorption said task backlogs were inactive healthy, contempt the weaker lodging market. Executives said astatine the clip customers weren't yet trading down to cheaper items.

Home Depot, arsenic good arsenic Lowe's, during the 2nd 4th noted beardown income from professionals including contractors, plumbers and electricians. It's a displacement from the aboriginal stages of the pandemic, erstwhile galore consumers were location during lockdown and invested successful upgrading their surviving spaces.

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