The Home Depot (HD) reported 2% lower sales for Q2, which was better than expected, and also guided for 2% to 5% lower sales for this year. That's the bad news. The good news is that its free cash flow (FCF) is surging, up 80% YoY in the first two quarters of this year. As a result, HD stock looks like a value play.
The company said that its Q2 earnings per share (EPS) was down 7.92% to $4.65. At least one analyst said that Home Depot blamed the large purchases that were made during the pandemic which are not trailing off, as well as high interest rates.
