Home Depot’s third-quarter results were mixed due to fewer storms, consumer anxiety, and a slumping housing market. The company lowered its fiscal 2025 earnings forecast but raised sales growth expectations. Earnings per share were $3.62, slightly below expectations. Revenue rose to $41.35 billion, beating projections.

CEO Ted Decker attributed the missed expectations to the lack of storms and lower demand. Revenue increased to $41.35 billion, surpassing estimates. Sales at stores open for a year rose 0.2%, with U.S. comparable store sales up 0.1%. Customer transactions fell 1.4%, but spending per receipt increased.

Home Depot now expects a 5% decline in adjusted earnings for fiscal 2025. Sales growth forecasted at 3% with slightly positive comparable sales growth. In August, Home Depot warned of modest price increases due to rising tariff costs. The U.S. housing slump continues, with the lowest home turnover rate in decades.

Shares of Home Depot fell 2% before the opening bell following the release of their third-quarter results. The company’s revenue increased to $41.35 billion, beating Wall Street projections. CEO Ted Decker attributed the missed expectations to the lack of storms and lower demand in certain categories.

Read more at Yahoo Finance: A mixed quarter for Home Depot with fewer storms and a more cautious consumer