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Home Depot Q3 Earnings Beat Expectations, Rebound Expected in 2025

Home Depot's Q3 2024 earnings beat expectations, showing signs of recovery despite economic headwinds. The company anticipates a rebound in 2025.

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United States

EconomyLabour MarketInvestmentRetailHousingEarnings

Home DepotSrs DistributionCnbc Investing ClubFederal ReserveLseg

Edward DeckerJim Cramer

What is Home Depot's guidance for the remainder of the year?: The author of this analysis is long Home Depot stock, adding to their position following the better-than-expected Q3 results and expecting a rebound in the housing market and company sales in 2025.
What were Home Depot's key financial results for the third quarter of 2024?: Home Depot's Q3 2024 results exceeded expectations, with net sales of $40.2 billion and adjusted EPS of $3.78. Same-store sales showed improvement despite overall declines, indicating a potential rebound.
Why did the author add to their position in Home Depot stock, and what is their investment thesis?: Home Depot's strength in power outdoor garden building materials, indoor garden, paint, lumber, plumbing, and hardware, all showed growth in same-store sales compared to last year. However, big-ticket transactions over $1,000 saw a decrease.
What are the main factors impacting Home Depot's performance, and what is the company's outlook for the future?: High interest rates and economic uncertainty continue to impact Home Depot's performance, particularly larger remodeling projects. However, the company anticipates a rebound in 2025 as interest rates decrease.
What aspects of Home Depot's business showed positive growth during Q3 2024, and which areas experienced weakness?: The company's positive outlook is supported by raised guidance, improved same-store sales figures, and the recent acquisition of SRS Distribution. This suggests the current quarter may be the last to show sales declines.

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