Home Depot maintains annual forecasts, flags pressure from housing affordability
Home Depot has maintained its annual forecasts despite warnings about consumer spending volatility and housing affordability pressures. The company reported first-quarter sales of $41.77 billion, surpassing analysts' expectations. Home Depot continues to invest in tools and digital capabilities to attract professional customers amid a broader industry slowdown.
- ▪Home Depot's quarterly sales reached $41.77 billion, exceeding estimates of $41.52 billion.
- ▪The company has maintained its annual comparable sales forecast, expecting flat to a 2.0 percent increase.
- ▪Home Depot's adjusted profit for the first quarter was $3.43 per share, beating the expected $3.41.
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Open this photo in gallery:Home Depot beat first-quarter results on the back of steady demand with shoppers spending more per trip.Charles Krupa/The Associated PressShareSave for laterPlease log in to bookmark this story.Log InCreate Free AccountHome Depot HD-N on Tuesday maintained its annual forecasts for a second straight time, even as the top U.S. home improvement retailer warned of rising volatility over consumer spending and ongoing pressure from housing affordability.Shares were last up marginally in choppy premarket trading after the company also beat first-quarter results on the back of steady demand with shoppers spending more per trip.Sentiment about the housing market remains subdued as the war in Iran stokes inflation pressures that are elevating everything from building…
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