Home Depot (NYSE: HD) reported its second quarter 2023 earnings results today.
Sales decreased 2% year-over-year to $42.9 billion but surpassed expectations. Comparable sales fell 2%.
Net earnings were $4.7 billion, or $4.65 per share, compared to $5.2 billion, or $5.05 per share, in the year-ago period. EPS also beat estimates.
For FY2023, the company expects sales and comparable sales to decline 2-5% YoY. EPS is expected to decline 7-13% from last year.
Despite the results beat, the stock stayed in red during premarket hours on Tuesday.