US home improvement chain Home Depot (HD:NYSE) is set to post its earnings for the three months to 30 April on 20 May.

Investors will be looking to see if weakening consumer confidence and an uneven US housing market are having a knock-on effect on sales, in what is the company’s fiscal first quarter.

In March, during the start of what is supposed to be the peak selling season for properties, existing US homes sold at the slowest pace for that month since 2009 according to the National Association of Realtors.

Moreover, applications for a mortgage to buy a home dropped for three consecutive weeks up to 25 April as economic uncertainty and high mortgage rates dampened demand.

Renovation work is often closely associated with people doing up their homes to sell or adapting newly-bought properties to the new owners’ tastes and requirements.

Having enjoyed bumper demand during the pandemic, Home Depot has found things more difficult in the period since – much of which management has pegged on higher interest rates and the implications this has for both the housing market and households’ willingness and ability to spend full stop.

In February, the company beat fourth-quarter earnings estimates and posted positive comparable sales after eight quarters in a row of declines.

The company said at the time it expected total sales to grow 2.8% in the 12 months to 31 January 2026, with like-for-like sales (stripping out the impact of new store openings) up around 1%. However, adjusted earnings per share were seen declining by 2% year-on-year.

US UPDATES OVER THE NEXT 7 DAYS

QUARTERLY RESULTS

20 May: Home Depot

21 May: Best Buy, Lowe’s, Medtronic, Palo Alto Networks, Synopsys, Target, TJX

22 May: Analog Devices, Autodesk, Deckers Outdoor, Dollar Tree, Intuit, Ralph Lauren, Workday

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