Home Depot is expected to report its first-quarter earnings before the bell on Tuesday.
Here's what Wall Street analysts surveyed by Refinitiv are expecting:
- Earnings per share: $3.08 expected
- Revenue: $34.96 billion expected
The home improvement retailer has gotten a boost to sales over the last year during the coronavirus pandemic. In the early days of U.S. lockdowns, it was able to keep its doors open as an essential retailer, attracting consumers who were tackling home improvement projects while stuck at their houses.
But the big question for Home Depot is whether it will be able to hold onto those gains even after the crisis subsides. Consumers are booking flights and hotels as they plan to travel again — taking them away from their homes and any potential renovations. However, the retailer could see a resurgence in its business for professionals as consumers feel more comfortable with inviting people into their homes.
Citing the uncertainty of the current environment, Home Depot did not issue an outlook for fiscal 2021. However, the company did say that if trends are unchanged, the company will see flat to slightly positive same-store sales growth.
Shares of Home Depot have risen more than 20% so far this year, giving it a market value of $344 billion. The stock closed Monday at $320.01.
This story is developing. Please check back for updates.
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