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Home Depot Analysts Cut Their Forecasts Following Q2 Results

The Home Depot, Inc. (NYSE:HD) reported mixed results for its second quarter on Tuesday. HD reported second-quarter 2024 sales growth of 0.6% year-over-year to $43.175 billion, marginally missing the consensus estimate of $43.376 billion. Adjusted EPS was $4.67 (-0.2% year over year), beating the consensus of $4.50. "The underlying long-term fundamentals supporting home improvement demand are strong. During the quarter, higher interest rates and greater macro-economic uncertainty pressured consumer demand more broadly, resulting in weaker spend across home improvement projects," commented Ted Decker, chair, president, and CEO. Home Depot raised its sales guidance from ...