Home Depot Reports Q2 2024 Earnings: Key Insights and Outlook
Home Depot Q2 2024 Earnings Overview
Home Depot Inc (NYSE:HD) reported its Q2 2024 earnings, which showcased several key points:
Financial Performance
- Sales Growth: The retailer achieved a modest growth of 0.6% year-over-year, totaling $43.175 billion.
- Revenue Expectations: Results fell slightly short of the consensus estimate of $43.376 billion.
- Acquisition Impact: The sales figures include $1.3 billion from the acquisition of SRS Distribution Inc., which accounted for roughly six weeks of sales.
Customer Transactions
Home Depot reported a decline in customer transactions for the quarter, which the company attributes to a decrease in home improvement spending.
Future Outlook
Despite the challenges faced in the current quarter, Home Depot has raised its annual revenue outlook, suggesting potential recovery ahead.
Conclusion
Overall, while Home Depot's second-quarter performance reflected some uncertainty in the market, the raised revenue outlook shows resilience in planning for future growth.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.