What to make of Home Depot's latest earnings?
* Home Depot reported earnings of $3.82 per share for the first quarter of fiscal 2023, missing analyst expectations of $3.80 per share.
* Revenue was $37.3 billion, down 4.2% from the same quarter last year.
* Comparable sales decreased 4.5%, driven by a decline in both U.S. and international sales.
* The company lowered its guidance for fiscal 2023, expecting sales and comparable sales to decline between 2% and 5%.
* Home Depot CEO Marvin Ellison attributed the decline in sales to a number of factors, including rising inflation, supply chain disruptions, and the ongoing war in Ukraine.
* Ellison said that the company is taking steps to mitigate the impact of these challenges, including increasing prices, improving inventory management, and expanding its supply chain.
* He also said that Home Depot remains confident in its long-term growth prospects, as the home improvement market is expected to continue to grow in the coming years.
Here are some additional details about Home Depot's latest earnings:
* The decline in comparable sales was driven by a decrease in both transactions and average ticket.
* The decrease in transactions was due to a number of factors, including the ongoing pandemic, which has led to some people working from home and spending less time on home improvement projects.
* The decrease in average ticket was due to a number of factors, including rising inflation, which has made it more expensive for people to do home improvement projects.
* Home Depot's gross margin was 34.8% in the first quarter, down from 35.2% in the same quarter last year.
* The decline in gross margin was due to a number of factors, including rising costs for labor, materials, and freight.
* Home Depot's operating margin was 14.3% in the first quarter, down from 14.5% in the same quarter last year.
* The decline in operating margin was due to the same factors that contributed to the decline in gross margin.
* Home Depot's net income was $3.9 billion in the first quarter, down from $4.2 billion in the same quarter last year.
* The decline in net income was due to the same factors that contributed to the decline in operating margin.
Overall, Home Depot's latest earnings were disappointing, but the company remains confident in its long-term growth prospects.
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I like hd because book value is about $2.59, the employees are usually clueless and everything is made in China. Watch the people who oppose cancel culture attack me.
HD stock, like all companies, will continue to fluctuate but always remember why you invested in this juggernaut blue-chip.
Sell now longs before it’s too late next week Friday $270 close
This is what you get for being long on bad earnings next week 270 soft
HD will get back to 420!