Overview
- Revenue reached $41.4 billion with net income of $3.6 billion as comparable sales inched up 0.2% overall and 0.1% in the U.S.
- Management now expects adjusted EPS for fiscal 2025 to decline about 5% versus a previously projected 2% drop.
- Executives cited a weak housing backdrop and an unusually quiet storm season as the main drivers of softer demand.
- The GMS acquisition contributed roughly $900 million to the quarter and is expected to add about $2 billion to full-year sales as the retailer targets pro customers.
- Home Depot shares fell more than 6% after the report, foot traffic dipped slightly per Placer.ai, and Lowe’s also lowered profit guidance following profit pressure despite modest sales growth.