Home Depot Reaffirms FY23 Guidance

(RTTNews) - The Home Depot (HD) reaffirmed its guidance for fiscal 2023. Sales and comparable sales are projected to decline between 2% and 5% compared to fiscal 2022. Earnings per share percent decline is anticipated between 7% and 13% compared to fiscal 2022.

Also, the company provided a Market Stability Base Case outlook which suggests overall home improvement market to grow by low-single digits. Sales growth is expected between 3% and 4% per year. Mid-to-high-single-digit earnings per share growth is anticipated.

Richard McPhail, CFO, said: "In our Accelerated Growth Case, we would expect sales and earnings per share to grow faster than the Market Stability Base Case."

At the end of the first quarter, the company operated a total of 2,324 retail stores.