Home Depot (NYSE:HD) announced its financial results for the second quarter today. In Q2, Home Depot experienced a 2% reduction in comparable sales, surpassing the anticipated decline of 4.1%. This decline was also seen in the United States, with comparable sales down by 2%, which was better than the expected 3.6% drop.
The company’s net sales totaled $42.9 billion, indicating a year-over-year decrease of 2%, but surpassing the projected amount of $42.1 billion. Earnings per share (EPS) came in at $4.65, compared to the Street estimate of $4.46.
Home Depot reaffirmed its outlook for the fiscal year 2024, anticipating that comparable sales will decline from 2% to 5%. Additionally, the company maintains its expectation of the full-year EPS decrease between 7% to 13% year-over-year.