2024-05-22 08:30:00 ET
Summary
- Home Depot recorded better-than-expected EPS figures but fell short on revenues in Q1.
- In this high-interest rate environment, many people might not want to invest in kitchens and bathrooms, so the company seems to be focusing more on professional customers.
- We explain why we think this home improvement retailing giant might be supported with buy-on-dips trading strategies going forward.
During the first-quarter period, Home Depot, Inc. (HD) recorded better-than-expected earnings figures but fell short on revenues. Specifically, the home repair retailer posted EPS figures of $3.63 (against the market’s consensus estimates of $3.60) on revenues of $36.42 billion (against the market’s consensus estimates of $36.66 billion). Concerns are circulating with respect to the average consumer's willingness to invest in large-scale home renovation projects (such as kitchens and bathrooms), while we continue to languish within this current high-interest rate environment....
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Home Depot: This Dog Hunts (Technical Analysis)