Home Depot's (NYSE: HD) third-quarter earnings came in below analysts' expectations, even though there was growth across almost all sectors. The company also lowered its 2019 outlook. This disappointed investors, and the stock price fell when the earnings report was released.
But is this indicative of where the company is headed? Management doesn't think so. Company leaders blamed the newly lowered expectations on a miscalculation of how long it would take to roll out new operational developments that, when they kick in, will also kick-start sales.
Home Depot actually gave a string of reasons for its weaker-than-expected forecast.