Home Depot Narrows FY23 Outlook Range - Update

(RTTNews) - While reporting financial results for the third quarter on Tuesday, home improvement retailer Home Depot Inc. (HD) narrowed it earnings per share as well as sales and comparable sales guidance range for the full-year 2023.

For fiscal 2023, the company now projects earnings per share to decline 9 to 11 percent on a sales and comparable sales decline of 3 to 4 percent from last year.

Previously, the company expected earnings per share to decline 7 to 13 percent on a sales and comparable sales decline of 2 to 5 percent from last year.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $15.14 per share on a sales decline of 2.9 percent to $152.83 billion for the year. Analysts' estimates typically exclude special items.

Meanwhile, comparable sales for the third quarter of fiscal 2023 decreased 3.1 percent and comparable sales in the U.S. decreased 3.5 percent.

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