Home Depot is set to report fiscal third-quarter earnings before the bell on Tuesday.
Here’s what analysts are expecting, based on a survey by Refinitiv:
- Earnings per share: $2.26
- Revenue: $26.26 billion
- Same-store sales: up 4.7 percent
Home improvement retailers Home Depot and Lowe’s are expected to have benefited this quarter from house price appreciation and spending on repairs and maintenance, Telsey Advisory Group analyst Joseph Feldman said in a research note. That’s in spite of slowing existing home sales, he said. Feldman also expects Home Depot may have had an opportunity to gain market share in the appliance category after Sears filed for bankruptcy protection and continues to shut stores.
Reaping the benefits of a warmer start to the summer, Home Depot far surpassed analysts’ expectations for the second quarter, with shoppers spending more at its stores per trip, and more customers visiting its stores overall. Analysts are looking to see if the company can keep the momentum going, especially as rival Lowe’s now has a new CEO and is shutting unprofitable stores to focus on growing sales.
Home Depot has said it expects revenue to climb roughly 7 percent for the year, with same-store sales climbing 5.3 percent.
Its shares are up about 12 percent from a year ago to trade around $183.
This is a developing story. Please check back for updates.