Home Depot on Tuesday delivered better-than-feared quarterly results and appears to be on the verge of an earnings rebound heading into 2025. Net sales in the three months ended Oct. 27 rose 6.6% year over year to $40.2 billion, outpacing the $39.3 billion estimate, according to LSEG. Adjusted earnings per share decreased 1.8% year over year to $3.78 per share, but exceeded expectations of $3.64 per share, LSEG data showed. Same store sales on a companywide basis were down 1.3%, while U.S.
rates are falling as they track the shorter end of the yield curve where the Federal Reserve has more influence by cutting rates. Home Depot Why we own it: We added Home Depot to the portfolio ahead of the Federal Reserve's first interest rate cut in September, betting that lowering borrowing costs will be on the horizon and spark a recovery in activity in the housing market. That, in turn, will help the retailer shake off a period of same-store sales declines.
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