Business

House Depot (HD) Q2 2021 revenue

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 preparing to announce the results of the second quarter of the fiscal year on the Tuesday before the market opens.

Here’s what Wall Street expects, according to a Refinitiv analyst survey:

  • Earnings per share: $ 4.44 expected
  • Revenue: $ 40.79 billion expected

A strong housing market, with rising home prices and low mortgage rates, has helped home improvement chains Home Depot and Lowe’s. However, analysts are watching how long this trend will last, with the delta variant providing the latest headwind for retailers. The unease about the rising number of Covid-19 cases could slow consumer spending.

Analysts say timber price inflation peaked in Home Depot’s final quarter, which should boost sales but could hurt profit margins.

The company faces tough comparisons with a year earlier, when its brick and mortar stores remained open during the pandemic and many Americans invested in remodeling projects. Home Depot’s revenue growth is expected to slow down in 2021.

The company has not yet published an outlook for the financial year.

Home Depot and Lowe’s are vying for business from home improvement like electricians, who typically place bulk orders, in the coming quarters. Home Depot recently expanded its pro business by acquiring HD Supply, a major distributor of home appliances, plumbing and electrical appliances.

Home Depot’s shares are up around 26% since the start of the year.

This story evolves. Please check again for updates.

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