The company missed on both revenue and EPS.
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CAROLINE WOODS: The world’s largest home improvement retailer could use customers making more home improvements.
Home Depot just nailed down a rough quarter – earnings missed Wall Street estimates for the second time in a row, and revenue came up short too. That’s the first double miss for the company in more than a decade.
On the bright side, Home Depot is betting on better results in the second half of the year. It backed its full-year outlook despite the misses.
And it’s not just Home Depot flashing mixed signals. The housing market is too – housing starts jumped more than 5% in July, easily topping forecasts… but building permits went the other way, dropping nearly 3%.
One fix that could help with both? Lower interest rates.
Let’s see what Lowe’s has to say when they report tomorrow before the bell.
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