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Home Depot’s Results Show Weaker Spending on Home Improvement Projects

publication date: Aug 14, 2024
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Image: Home Depot’s shares have been choppy the past few years. 

Looking to fiscal 2024 guidance, which includes 53 weeks of operating results, Home Depot expects sales to advance 2.5%-3.5% on the year, and comparable sales to decline 3%-4% for the 52-week period compared to 2023. Adjusted operating margin rate is targeted between 13.8%-13.9%, while diluted earnings per share for the 53-week period is targeted to decline 2%-4%. Though Home Depot is navigating a weaker home-improvement spending environment, we like its dividend quite a bit, and the firm remains a key holding in the Dividend Growth Newsletter portfolio. Shares yield 2.6% at the time of this writing.


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