From CNBC:

Home Depot is expected to report its fiscal fourth-quarter earnings on Tuesday. Wall Street analysts are expecting earnings per share of $2.77 and revenue of $34.64 billion. The home improvement retailer has experienced a tougher sales backdrop over the past year, facing a pullback in consumer spending as families postpone purchases due to inflation and higher interest rates. Home Depot’s shares were up nearly 5% this year, closing at $362.35 on Friday.

The company has felt the impact of inflation as customers opt for more modest home projects rather than bigger, pricier ones. Home Depot said in November that it expected full-year sales to fall by 3% to 4% and earnings per share to drop by 9% to 11% compared with the prior year.

Chief Financial Officer Richard McPhail anticipates a “year of moderation” for the retailer as sales patterns normalize. The company’s shares closed at $362.35 on Friday, bringing its market value to about $360 billion.

Please check back for updates as this story develops.



Read more: Home Depot (HD) Q4 2023 earnings