Home Depot misses third-quarter earnings expectations, cuts outlook

""For the three months ended Nov. 2, Home Depot earned $3.6 billion, or $3.62 per share. A year earlier, it earned $3.65 billion, or $3.67 per share. Removing one-time charges and benefits, earnings were $3.74 per share, a dime short of Wall Street expectations, according to a poll by FactSet. It is the third consecutive quarter that Home Depot, an overperformer in recent years, has missed profit expectations.""

""Our results missed our expectations primarily due to the lack of storms in the third quarter, which resulted in greater than expected pressure in certain categories," CEO Ted Decker said in a statement. "Additionally, while underlying demand in the business remained relatively stable sequentially, an expected increase in demand in the third quarter did not materialize. We believe that consumer uncertainty and continued pressure in housing are disproportionately impacting home improvement demand.""

""Revenue for the Atlanta company rose to $41.35 billion from $40.22 billion, topping Wall Street projections of $41.15 billion. Sales at stores open at least a year, a key gauge of a retailer's health, increased 0.2%. In the U.S., comparable store sales edged up 0.1%. Customer transactions fell 1.4% in the quarter. The amount shoppers spent rose to $90.39 per average receipt from $88.65 in the year-ago period.""

Home Depot reported third-quarter net income of $3.6 billion, or $3.62 per share, and adjusted earnings of $3.74 per share, a dime below Wall Street estimates. Revenue rose to $41.35 billion, with comparable-store sales up 0.2% overall and 0.1% in the U.S. Customer transactions fell 1.4% while average ticket increased to $90.39. Management lowered its fiscal 2025 adjusted earnings forecast but raised sales-growth expectations. Leadership attributed the profit shortfall to fewer severe storms, persistent housing weakness, and greater consumer uncertainty. Shares declined more than 3% premarket, and rival Lowe's stock also slipped ahead of its results.

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