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Home Depot expected to see another quarter of soft earnings as potential rate cut comes into view

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Home Depot News

Earnings Per Share,Interest Rates,Home Improvement

Lower interest rates could provide a boost for Home Depot.

) is expected to report another quarter of muted earnings as shoppers hold off on major home improvement projects amid high interest rates and tighter wallets.

With the "noise that interest rates are going to come down," consumers are likely to hold off even more, per Joe Feldman of Telsey Advisory Group said investors may have to wait a while to see the effect trickle down to Home Depot. If the Fed lowers rates in September, "it doesn't mean sales pick up the next day," he said.

MIAMI, FLORIDA - NOVEMBER 14: Customers shop at a Home Depot store on November 14, 2023 in Miami, Florida. Last quarter, the company reaffirmed its fiscal 2024 guidance, with a 1% year over year total sales growth and a 1% drop in same-store sales. “Bachelorette” Alum James McCoy Taylor Accused of 'Shoving' Woman, 'Restricting' Her 'Movements': Probable Cause Doc

 

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