Prospects sporting protecting masks wait to take a look at at a Residence Depot retailer in Pleasanton, California, U.S., on Monday, Feb. 22, 2021.
David Paul Morris | Bloomberg | Getty Pictures
Residence Depot is predicted to report its first-quarter earnings earlier than the bell on Tuesday.
Here is what Wall Avenue analysts surveyed by Refinitiv expect:
- Earnings per share: $3.08 anticipated
- Income: $34.96 billion anticipated
The house enchancment retailer has gotten a lift to gross sales over the past yr through the coronavirus pandemic. Within the early days of U.S. lockdowns, it was capable of preserve its doorways open as a vital retailer, attracting shoppers who had been tackling house enchancment tasks whereas caught at their homes.
However the massive query for Residence Depot is whether or not it is going to be capable of maintain onto these good points even after the disaster subsides. Shoppers are reserving flights and accommodations as they plan to journey once more — taking them away from their houses and any potential renovations. Nevertheless, the retailer may see a resurgence in its enterprise for professionals as shoppers really feel extra comfy with inviting folks into their houses.
Citing the uncertainty of the present atmosphere, Residence Depot didn’t difficulty an outlook for fiscal 2021. Nevertheless, the corporate did say that if tendencies are unchanged, the corporate will see flat to barely optimistic same-store gross sales development.
Shares of Residence Depot have risen greater than 20% to this point this yr, giving it a market worth of $344 billion. The inventory closed Monday at $320.01.
This story is growing. Please verify again for updates.
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