Home Depot (NYSE:HD) unveiled its fourth-quarter earnings, posting an EPS of $2.82, which surpassed the analysts’ prediction of $2.77. The company’s quarterly revenue was $34.8 billion, above the expected $34.64 billion.
However, Home Depot provided a full-year outlook that fell short of analysts’ projections, indicating the anticipation of continued subdued demand. The company predicts a challenging year ahead, with homeowners expected to curb spending on home improvements due to persistent inflation.
For 2024, Home Depot expects its comparable sales to drop by around 1%, in contrast to the slight increase of 0.06% anticipated by analysts. Following this announcement, the company’s shares experienced a decline of more than 2% in premarket trading.