Home Depot Earnings Warn of a Consumer Slowdown

Weather, Slowing Consumer Spending Hit Sales Growth

Home Depot, the home-improvement retailer, reported lower-than-expected earnings for the first quarter of its fiscal year, citing weather and a slowdown in consumer spending.

Key Takeaways:

• Home Depot shares fell 17% in premarket trading.
• Adjusted earnings per share came in at $2.82, below expectations of $2.85.
• Revenue for the quarter was $43.18 billion, slightly below the $43.79 billion analysts had projected.
• The company cut its fiscal-year sales and earnings guidance due to the weaker-than-expected results.
• Home Depot's stock has been volatile recently, with shares initially falling after the earnings announcement but later rebounding.