Customers wearing protective masks wait to check out at a Home Depot store in Pleasanton, California, United States on Monday, February 22, 2021.
David Paul Morris | Bloomberg | Getty Images
Home Depot is expected to report its first quarter earnings before the bell on Tuesday.
Wall Street analysts surveyed by Refinitiv expect the following:
- Earnings per share: $ 3.08 expected
- Revenue: $ 34.96 billion expected
The hardware store saw sales surge last year during the coronavirus pandemic. In the early days of the U.S. lockdown, it was possible to keep its doors open as a major retailer, attracting consumers who tackled home improvement projects while stuck in their homes.
However, the big question for Home Depot is whether it will be able to hold those profits after the crisis ends. Consumers are booking flights and hotels as they plan to travel again – and take them away from their homes and do possible renovations. However, the retailer could see a revival in its business for professionals as consumers are more comfortable inviting people into their homes.
In view of the uncertainty of the current environment, Home Depot did not issue an outlook for the 2021 financial year. However, the company said that assuming trends remain unchanged, the company will see flat to slightly positive revenue growth in the same business.
Home Depot’s shares are up more than 20% so far this year, for a market value of $ 344 billion. The stock closed at $ 320.01 on Monday.
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