Home Depot is set to report first-quarter earnings before the bell Tuesday.
Here’s what Wall Street analysts surveyed by Refinitiv are expecting:
Earnings per share: $3.68 expectedRevenue: $36.72 billion expected
This marks the first quarterly report with Ted Decker at the helm of the company. Decker, a longtime Home Depot veteran, previously served as chief operating officer and inherits the top job at a tough time for home improvement.
Inflation keeps climbing, which may lead consumers to put off renovation projects. Rising interest rates could result in a slowdown in the hot housing market and delays to expensive home improvement plans. And many consumers spent the early days of the pandemic painting their walls, buying new patio furniture and taking care of other do-it-yourself projects that won’t need to be repeated for at least a few years.
But Home Depot has said that consumers are still willing to spend on their homes. For 2022, the company is projecting earnings per share growth in the low-single digits and “slightly positive” sales growth.
Shares of the company have fallen 7% over the last year, dragging its market value down to $306 billion.