Home Depot's sales have gotten hit by economic factors, as higher interest rates slow housing turnover and more than two years of high inflation makes homeowners less willing to spring for discretionary purchases and do-it-yourself projects. The company had cut its full-year forecast for comparable sales in August, citing consumer uncertainty.

Home Depot shares were modestly lower by midday Tuesday after its third-quarter results came in above estimates and the retailer also lifted fiscal 2024 sales projections.

Home Depot reported decent revenue growth for Q3 thanks, in part, to hurricane activity, but it experienced a decline in net earnings.

Home Depot (HD) reports strong Q3 earnings with revenue rising 6.6% year-over-year. Adjusted EPS exceeds consensus expectations.

Home Depot narrowed 2024 guidance early Tuesday after beating earnings and sales estimates for the third quarter. Home Depot stock fell in a buy area. The home improvement store giant is now guiding a 1% decline in adjusted earnings per share for the full year vs.