Home Depot climbs as investors look past Q2 miss

Home Depot shares were up over 4% Tuesday after the home improvement retailer turned in weaker-than-expected Q2 results but doubled down on its full-year outlook.

Adjusted earnings per share came in at $4.68, below analysts’ forecast of about $4.72. Revenue landed at $45.28 billion, also shy of expectations. Comparable-store sales grew 1%, slightly below the 1.4% gain analysts were looking for, as cash-strapped consumers push back big-ticket home improvement projects.

Still, the company reiterated its full-year outlook, projecting a 1% lift in same-store sales and net sales growth of 2.8% — largely in line with the Street’s estimates. The cautious but steady guidance could be a sign that management is confident even as demand cools.

Home Depot shares are now up about 6% year to date.

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