HomeBusinessHome Depot (HD) earnings Q3 2022

Home Depot (HD) earnings Q3 2022

A customer wearing a protective mask loads lumber onto a cart at a Home Depot store in Pleasanton, California, on Monday, Feb. 22, 2021.

David Paul Morris | Bloomberg | Getty Images

Home Depot on Tuesday will report third-quarter earnings, and Wall Street will be on the lookout for whether macroeconomic headwinds are hitting the retailer.

Consumers have been facing ongoing inflation, with rising costs hitting segments like food and housing especially hard. Home Depot — as well as competitor Lowe’s, which reports its third-quarter earnings Wednesday — are likely to provide insight into whether consumers are still spending on renovations and do-it-yourself home improvements.

Here’s what Wall Street is expecting Home Depot to report on Tuesday, based on a survey of analysts by Refinitiv:

  • Earnings per share: $4.12 expected
  • Revenue: $37.96 billion expected

Last quarter, Home Depot beat analyst expectations, reporting that it still saw continued strength in demand for home improvement projects. At the time, the company stood by its forecast and said comparable store sales for the full year were expected to grow about 3%, despite a projected slowdown in the second half of the year.

In August, management said project backlogs were still healthy, despite the weaker housing market. Executives said at the time customers weren’t yet trading down to cheaper items.

Home Depot, as well as Lowe’s, during the second quarter noted strong sales from professionals including contractors, plumbers and electricians. It’s a shift from the early stages of the pandemic, when many consumers were home during lockdown and invested in upgrading their living spaces.

This is breaking news. Please check back for updates.



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