Home Depot Inc.'s chief executive said Tuesday that customers are still showing caution toward large remodeling projects, though the company benefited broadly from "greater engagement in home improvement spend" during the fiscal fourth quarter.
CEO Ted Decker also called out "uncertain macroeconomic conditions and a higher interest rate environment that impacted home-improvement demand" in Tuesday's earnings release.
The company's outlook for the new fiscal year came up short, with Home Depot $(HD)$ projecting a 2% decline in adjusted earnings per share to $15.24, while analysts surveyed by FactSet were modeling $15.65.
Home Depot topped expectations with its latest quarterly results, delivering adjusted earnings per share of $3.13 on revenue of $39.7 billion. Analysts were looking for $3.04 and $39.2 billion, respectively.
The stock is down 1.8% in premarket trading Tuesday after falling in each of the six prior sessions.
-Emily Bary
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(END) Dow Jones Newswires
February 25, 2025 06:24 ET (11:24 GMT)
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