Erste Group Bank Cuts Home Depot FY2028 Earnings Estimate to $16.02
Erste Group Bank analysts have revised their estimate for Home Depot's FY2028 earnings. The company now expects $16.02 per share, down from a previous forecast of $16.05. This revision comes after the home improvement retailer reported strong quarterly earnings in August.
The Home Depot posted $4.92 earnings per share for the quarter, beating analysts' consensus estimates by $0.19. Revenue reached $47.86 billion, exceeding the expected $47.24 billion. Despite this, the company faces challenges from housing weakness and cost pressures, according to Sanford C. Bernstein.
Home Depot's professional-focused offerings have been a key driver of growth, with momentum among professional customers and digital sales growth contributing to market-share gains. However, continued reductions in traffic could make growth harder to sustain.