Home Depot: reduces annual targets

(CercleFinance.com) - On its quarterly publication, Home Depot announces a downward revision of its annual targets, to reflect the performance of H1 2024 and to include SRS (whose acquisition was completed last June).
NB: pmt -4.6%.

As a result, the US leader in home improvement now anticipates total sales growth of 2.5% to 3.5%, although down 3% to 4% on a comparable basis, with an adjusted operating margin of 13.8% to 13.9%.

Home Depot posted Q2 net income of $4.6bn, down 1% on EPS of $4.60, on sales of $43.2bn, up 0.6% (-3.3% on comparable sales).

Rising interest rates and heightened macroeconomic uncertainty have put broader pressure on consumer demand, resulting in lower spending on home improvement projects, management said.


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