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Compared to Estimates, Home Depot (HD) Q3 Earnings: A Look at Key Metrics
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Home Depot (HD - Free Report) reported $37.71 billion in revenue for the quarter ended October 2023, representing a year-over-year decline of 3%. EPS of $3.81 for the same period compares to $4.24 a year ago.
The reported revenue represents a surprise of +0.50% over the Zacks Consensus Estimate of $37.52 billion. With the consensus EPS estimate being $3.76, the EPS surprise was +1.33%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Home Depot performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Comparable store sales - YoY change: -3.1% versus the 12-analyst average estimate of -3.3%.
Number of stores - Retail: 2,333 compared to the 2,328 average estimate based on six analysts.
Comparable store sales - U.S. - YoY change: -3.5% compared to the -3.6% average estimate based on four analysts.
Average ticket - Retail: $89.36 compared to the $91.32 average estimate based on two analysts.
Number of customer transactions - Retail: 399.8 million versus the two-analyst average estimate of 393.6 million.
Shares of Home Depot have returned -3.1% over the past month versus the Zacks S&P 500 composite's +2% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.
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Compared to Estimates, Home Depot (HD) Q3 Earnings: A Look at Key Metrics
Home Depot (HD - Free Report) reported $37.71 billion in revenue for the quarter ended October 2023, representing a year-over-year decline of 3%. EPS of $3.81 for the same period compares to $4.24 a year ago.
The reported revenue represents a surprise of +0.50% over the Zacks Consensus Estimate of $37.52 billion. With the consensus EPS estimate being $3.76, the EPS surprise was +1.33%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Home Depot performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Comparable store sales - YoY change: -3.1% versus the 12-analyst average estimate of -3.3%.
- Number of stores - Retail: 2,333 compared to the 2,328 average estimate based on six analysts.
- Comparable store sales - U.S. - YoY change: -3.5% compared to the -3.6% average estimate based on four analysts.
- Average ticket - Retail: $89.36 compared to the $91.32 average estimate based on two analysts.
- Number of customer transactions - Retail: 399.8 million versus the two-analyst average estimate of 393.6 million.
View all Key Company Metrics for Home Depot here>>>Shares of Home Depot have returned -3.1% over the past month versus the Zacks S&P 500 composite's +2% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.