家得宝公司（NYSE: HD）公布了好于预期的第四季度业绩，同时对下一个财年给出了谨慎的展望。尽管该公司在“不可预测”的宏观环境下依然充满信心，摩根大通分析师称这一展望“保守”。 家得宝在其财报电话会议上预测2025财年销售额将增长2%至1639.8亿美元，略低于一致预期。预计可比销售额将增长1%，运营利润率为13.4%。调整后的每股收益预计将下降2%至14.94美元，同样低于预期。 然而，公司的执行副总裁兼首席财务官理查德·麦克菲尔预测，2024年末的业务势头将延续到2025财年。 “我们不假设宏观经济环境会有任何实质性的变化。我们预期消费者将保持健康。我们不假设利率环境会发生变化，也不假设住房周转会有所改善，”他说。 首席执行官泰德·德克尔也重申，尽管高利率环境影响家装需求，家得宝仍将“坚定不移”地进行投资。 摩根大通分析师克里斯托弗·霍弗斯表示，家得宝公布了自2022年第四季度以来首次实现同比增长的强劲季度业绩。然而，他补充道，“指导显得保守”。霍弗斯维持对该股的“增持”评级，目标价为每股475美元。 公司超出第四季度预期，报告销售额为397亿美元，增长14.1%，每股收益为3.13美元，增长9.4%。交易量增长了7.6%，可比销售额略有增长。尽管毛利和运营收入上升，利润率略有下降。 周二家得宝股价上涨2.84%，而标普500指数追踪的SPDR标普500 ETF信托(NYSE: SPY)下跌0.50%。年初至今，家得宝股价上涨1.24%，较去年同期上涨5.84%。 Benzinga追踪的29位分析师平均给出427.56美元的目标价，评级为“买入”。估值范围从318美元到475美元不等。Telsey咨询集团和富国银行最近的评级平均为453.33美元，表明有14.77%的上涨潜力。 照片来源：Shutterstock

以上内容来自Benzinga Earnings专栏，原文如下：

Home Depot Inc. (NYSE:HD) reported a better-than-expected fourth quarter while issuing a cautious outlook for the next fiscal year. While the company remains confident despite “uncertain” macro conditions, this JPMorgan analyst terms the outlook as “conservative”.

What Happened: Home Depot during its earnings call predicted a 2% sales growth to $163.98 billion in fiscal year 2025, which was slightly under consensus. It expected the comparable sales to rise 1%, with a 13.4% operating margin. Adjusted EPS is expected to drop 2% to $14.94, also below estimates.

However, Richard McPhail, executive VP and CFO of the company predicted that the business momentum from late 2024 would continue into fiscal 2025.

“We are not assuming any meaningful changes to the macroeconomic environment. We expect our consumer will remain healthy. We are not assuming a change in the rate environment nor improvements in housing turnover,” he said.

CEO Ted Decker also reiterated that the home improvement retailer will “remain steadfast” with investments despite “uncertain macroeconomic conditions” fueled by a higher interest rate environment which impacts the home improvement demand.

See Also: Mark Cuban Calls Deductibles ‘The Biggest Problem’ in Healthcare: ‘System…Needs To Be Redesigned’

Why It Matters: JPMorgan analyst Christopher Horvers said that HD reported strong quarterly results with the first year-on-year earnings growth since the fourth quarter of 2022. However, he added that the “guidance appears conservative”. Horvers maintained an ‘overweight’ rating on the stock with a price target of $475 apiece.

The company exceeded fourth-quarter expectations, reporting $39.7 billion in sales, up 14.1%, and a $3.13 EPS, up 9.4%. Transactions increased by 7.6%, with modest comparable sales growth. Margins dipped slightly despite rising gross profit and operating income.  

Price Action: HD rose 2.84% on Tuesday, contrasting with a 0.50% fall in the SPDR S&P 500 ETF Trust (NYSE:SPY), which tracks the S&P 500 index.

The stock remains 1.24% higher on a year-to-date basis and up 5.84% over a year.

Benzinga tracks 29 analysts with an average price target of $427.56 for the stock, reflecting a “buy” rating. Estimates range widely from $318 to $475. Recent ratings from Telsey Advisory Group, and Wells Fargo average $453.33, suggesting a potential 14.77% upside.

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