Earnings Preview: The Home Depot

The Home Depot (HD) is expected to report Q2 earnings before the market open on Tuesday, August 18 with a conference call scheduled for 9 am ET.

Guidance

Analysts are looking for a profit of 59c on revenue of $19.21B. The consensus range is 50c-66c for EPS, and revenue of $18.68B-$19.66B, according to First Call. In June the company updated its FY09 EPS guidance and said it expects EPS to be flat-down 7% from last year, excluding items. Adjusted EPS is expected to be down 20%-26%. Prior guidance was for EPS to be down down 7% from last year and down 26% on an adjusted basis. The company still expects sales to decline by about 9%, negative same-store sales in the high single digit area. The First Call consensus for EPS and revenue is $1.44 and $65.37B, respectively. At the same time company CFO Carol Tome said the company isn't "out of the woods" and predicted that 2H09 will "remain challenging."

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