Home Depot stock falls after company cuts full-year outlook as consumers put off home improvement projects

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"slightly positive," whereas it had previously expected a 1% increase for 2025.Full-year profits are also now expected to fall more sharply, with adjusted earnings per share forecast to drop by 5%, more than the 2% decline the company expected as of August.In the third quarter, the company's adjusted earnings per share came in at $3.74, missing forecasts for earnings per share of $3.84, according to Bloomberg data. Revenue tallied $41.4 billion, which was ahead of forecasts for $41 billion.Same-store sales rose 0.2% overall and 0.1% in the US. The Street expected same-store sales to rise closer to 1.3% in the third quarter.In a release, CEO Ted Decker said its third quarter results came in below forecasts, "primarily due to the lack of storms in the third quarter, which resulted in greater than expected pressure in certain categories."Telsey Advisory Group's Joe Feldman wrote in a note to clients early Tuesday that "the result and guidance reduction are disappointing, given commentary last quarter that home improvement demand for small repair and maintenance projects was picking up."Read more: 6 home improvements that could lower your home insurance costsFeldman said he still thinks "the company stands to benefit as housing demand recovers."Home Depot's results come as mortgage rates remain stubbornly high, pushing more Americans to stay in their current living situations, while a softening labor market has also pressured demand for the large-scale renovation projects crucial to the company's results."While underlying demand in the business remained relatively stable sequentially, an expected increase in demand in the third quarter did not materialize," Decker said in a release."We believe that consumer uncertainty and continued pressure in housing are disproportionately impacting home improvement demand."During a call with investors on Tuesday, Decker added that drivers of demand, such as home price appreciation, household formation, and housing turnover, are "pressured.""Economic uncertainty continues largely now due to living costs, affordability's a word that's being used a lot, layoffs, increased job concerns, et cetera," Decker added.Terms and Privacy PolicyPrivacy & Cookie SettingsMore InfoS&P 5006,596.36 -76.05 (-1.14%)Dow 3046,009.08 -581.16 (-1.25%)Nasdaq22,331.06 -377.02 (-1.66%)Russell 20002,329.95 -11.43 (-0.49%)VIX25.26 +2.88 (+12.91%)Gold4,054.60 -19.90 (-0.49%)PortfolioSign in to access your portfolioSign inTop gainersDGNX Diginex Limited 14.63 +1.04 (+7.65%)AS Amer Sports, Inc. 32.96 +2.20 (+7.15%)ONDS Ondas Holdings Inc. 6.63 +0.37 (+5.99%)JHX James Hardie Industries plc 17.73 +1.03 (+6.20%)MSTR Strategy Inc 206.75 +11.32 (+5.80%)Top losersSNDK Sandisk Corporation 233.58 -32.31 (-12.15%)NICE NICE Ltd. 106.88 -13.99 (-11.57%)FIGR Figure Technology Solutions, Inc. 37.85 -4.39 (-10.39%)BETA BETA Technologies, Inc. 24.90 -3.10 (-11.07%)KLAR Klarna Group plc 31.75 -3.13 (-8.97%)Most activeNVDA NVIDIA Corporation 180.44 -6.16 (-3.30%)ONDS Ondas Holdings Inc. 6.63 +0.37 (+5.99%)OPEN Opendoor Technologies Inc. 7.28 -0.56 (-7.14%)LNW Light & Wonder, Inc. 86.22 +86.22 (0.00%)PLUG Plug Power Inc. 2.0800 -0.0050 (-0.24%)Earnings eventsMy earnings eventsEarnings eventsTrending tickersBTC-USD Bitcoin USD 95,061.10 -758.82 (-0.79%)NET Cloudflare, Inc. 197.19 -5.07 (-2.50%)HD The Home Depot, Inc. 346.00 -12.03 (-3.36%)OLMA Olema Pharmaceuticals, Inc. 20.89 +12.37 (+145.19%)ETH-USD Ethereum USD 3,187.77 -11.34 (-0.35%)Top economic events