Categories Retail, U.S. Markets News
Home Depot’s stock sees a dip after providing preliminary FY2020 guidance
Shares of The Home Depot (NYSE: HD) remained down 1.8% in morning hours on Wednesday after the company provided a preliminary outlook for fiscal year 2020 that was lower than what analysts had predicted.
The company reaffirmed its guidance for fiscal year 2019 and continues to expect total sales growth of approx. 1.8% and comparable sales growth of approx. 3.5%. Diluted EPS is expected to grow around 3.1% to $10.03.
Home Depot provided a preliminary fiscal year 2020 outlook which outlines total sales growth of approx. 3.5-4%. Based on data from CNBC, analysts were expecting sales growth of 4.3%. Comparable sales growth is expected to be approx. 3.5-4%.
The retailer also touched upon its One Home Depot strategy which includes investments in store enhancements, new e-commerce solutions, and delivery options. The company said it was building on its distinct competitive advantages to capitalize on a large and fragmented market opportunity and expand its leadership position for years to come.
For its most recent quarter, Home Depot reported better-than-expected earnings but missed revenue estimates. Net sales rose 3.5% to $27.2 billion while EPS grew 0.8% to $2.53. Comparable sales rose 3.6%.
Most Popular
What to look for when CVS Health (CVS) reports Q3 earnings
Healthcare company CVS Health Corporation (NYSE: CVS) is all set to report earnings next week, with Wall Street expecting a mixed outcome. The company has been facing challenges in certain
eBay (EBAY): A few factors that helped drive growth in Q3 2024
Shares of eBay Inc. (NASDAQ: EBAY) stayed green on Friday. The stock has gained 32% year-to-date. The ecommerce leader delivered revenue and earnings growth for the third quarter of 2024,
CVX Earnings: Chevron reports lower revenue and profit for Q3 2024
Energy exploration company Chevron Corporation (NYSE: CVX) on Friday announced third-quarter 2024 financial results, reporting a decline in net profit and revenues. Net income attributable to Chevron Corporation dropped to
Comments
Comments are closed.