Home Depot Reports Earnings Tuesday. Here’s What to Expect.

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Analysts project a 3% drop in fiscal-fourth-quarter revenue, reflecting ongoing challenges in the home improvement sector.

Investors are bracing themselves for what seems to be inevitable: Home Depot could post its first annual sales drop since 2009.

Analysts expect Home Depot’s revenue will fall by 3% to $34.6 billion in its fiscal fourth quarter, according to FactSet estimates as of Friday afternoon. Yearly revenue is also expected to decline by that amount, according to estimates. Home improvement retailers have had a tough go of it lately. With mortgage rates still rising, people haven’t been too keen on buying new homes—or embarking on the expensive renovations that often accompany a new purchase. That has translated to fewer sales for companies such as Home Depot and its peer Lowe’s.

And certainly, there are a few budding signs that things are looking up for home improvement. For one, the sector’s busy season—spring and summer—is fast approaching, which could help boost sales. Plus, the prospect of lower interest rates later this year could support a more optimistic tone from the company’s management team, according to D.A. Davidson analyst Michael Baker.

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