RPT-BUZZ-PREVIEW: Home Depot expected to report quarterly revenue drop

Reuters
02/24
RPT-BUZZ-PREVIEW: Home Depot expected to report quarterly revenue drop

Repeats Monday's BUZZ with no changes to text

** Shares of Home Depot HD.N closed down 1.4% to $376.99 ahead of its quarterly earnings report due before markets open on Tuesday

** Wall Street analysts expect a ~4% drop in HD's revenue to $38.1 billion, down from ~$40 billion in the prior year. The home improvement retailer is expected to report a ~16% decline in adj EPS to $2.54 versus $3.02 a year ago

** Consumer spending and U.S. economic growth likely moderated in the fourth quarter because of disruptions from last year's government shutdown

** Last week, Walmart WMT.O reported that U.S. same-store sales rose 4.6% for the quarter ending January 31, exceeding estimates

** 38 analysts covering HD, giving it an avg rating of "BUY" and median PT of $406, per LSEG data

** HD is up 9.6% YTD vs 1.5 rise in Dow Industrials .DJI

(Reporting by Chibuike Oguh in New York)

((Email: Chibuike.Oguh@thomsonreuters.com; Phone: +332-219-1834; Reuters Messaging: chibuike.oguh.thomsonreuters.com@reuters.net))

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