Home Depot Shares Plunge Most Since 2008 After Slashing Sales Outlook

Home Depot Shares Plunge Most Since 2008 After Slashing Sales Outlook

Home Depot shares slumped more than 7% in premarket trade, putting shares on track for their worst daily drop since 2008, after the company slashed its full-year sales guidance on Tuesday.

Here's BBG's breakdown of the company's Q3 earnings report...

• Sees FY comparable sales about +3.5%, saw about +4%
• Sees FY revenue about +1.8%, saw about +2.30%
• 3Q comparable sales +3.6% vs. +4.80% y/y, estimate +4.6% (Consensus Metrix, average of 25 estimates)
• 3Q EPS $2.53 vs. $2.51 y/y, estimate $2.53 (range $2.48 to $2.58) (Bloomberg data)
• 3Q net sales $27.22 billion, +3.5% y/y, estimate $27.52 billion (range $27.35 billion to $27.72 billion) (BD)
• 3Q U.S. comparable sales +3.8% vs. +5.40% y/y
• 3Q average ticket sales $66.36, +1.9% y/y
• 3Q total location count 2,290, estimate 2,290 (Bloomberg MODL)
• 3Q customer transactions +1.5%
• 3Q average ticket +1.9%, estimate +2.41% (MODL)

The action in Home Depot shares weighed on Dow futures ahead of the bell:

 

 

 

Tyler Durden Tue, 11/19/2019 - 06:27

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Home Depot Shares Plunge Most Since 2008 After Slashing Sales Outlook