Home Depot Q1 earnings preview: Here’s what to expect

Home Depot (HD) is expected to report its fiscal first quarter 2023 earnings results Tuesday before market open as consumer spending on home improvement softens compared to the pandemic boom.

Analysts are expecting a decline year-over-year in revenue for the home improvement giant as well as a decline in earnings and same-store sales. Analysts are also keeping an eye on the impact of unfavorable weather in March and April, in addition to the pullback of consumer spending March, as well as a “softer housing market backdrop,” per Credit Suisse.

Here’s what Wall Street expects from Home Depot, per Bloomberg estimates:

Revenue: $38.34 billion expected, down 1.5% from a year ago

Adjusted earnings per share: $3.80 per share expected, down 7.1% from a year ago

Same-store sales: down 1.42% expected

Wall Street also expects customer transactions to decline compared to last year, down 5.36%, although inflation is likely to have driven higher average ticket sizes, up 2.63%.

In a note from Credit…

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This article was written by and originally published on finance.yahoo.com