<p>作者：Tomi Kilgore 和 Bill Peters</p>
<p>利潤和總銷售額超出預期，但可比銷售增長略顯不足</p>
<p>家得寶的股票在週二上漲，因為該零售商的收益超出預期，並確認了全年的展望。</p>
<p>在家得寶保持全年展望不變後，該公司的股票在週二小幅上漲，這讓擔心伊朗戰爭導致汽油價格上漲會進一步壓縮消費者支出並抑制疲軟住房市場的投資者鬆了一口氣。</p>
<p>該零售商的財年第一季度利潤和總銷售額超出預期，但報告的可比銷售增長低於預測，因為更多的消費者仍然不願意投入更大、更昂貴的項目。</p>
<p>首席執行官 Ted Decker 表示：“儘管消費者的不確定性和住房可負擔性壓力加大，但我們業務的基本需求與我們在 2025 財年看到的相對相似。”</p>
<p>在家得寶的財報電話會議上，Decker 表示，儘管消費者在大型項目上有所保留，但他們在第一季度的參與度比公司之前看到的更高。</p>
<p>第一季度可比大宗商品購買（即價格超過 1000 美元的商品）增長了 0.8%。這一增幅略低於第四季度的增長，因為房主們推遲了那些不被視為必要的翻新。</p>
<p>然而，Decker 表示，儘管消費者在過去幾年面臨價格衝擊和高利率使住房市場停滯，家得寶的消費者整體表現良好。隨着天氣改善，5 月初的銷售回升為消費者參與提供了樂觀的理由。</p>
<p>“你看看我們的核心客户，他們可能是所有消費者中最健康的，” 他説。“他們往往擁有自己的房屋。在過去幾年中，他們的房屋價值上漲了 50%。他們的股票投資組合也有所改善。”</p>
<p>截至週二下午早些時候，家得寶的股票上漲了 0.7%。週一，股票上漲了 0.8%，在週五收盤時達到了自 2023 年 11 月以來的最低價。</p>
<p>截至 5 月 4 日的季度，可比銷售（即開業超過一年的商店銷售）同比增長 0.6%，這是連續第四個季度的增長。但這一結果低於 FactSet 彙編的分析師平均預期的 0.8% 增長。美國商店的銷售增長了 0.4%。</p>
<p>總銷售額增長了 4.8%，達到 417.7 億美元，超過 FactSet 一致預期的 415.9 億美元。</p>
<p>銷售成本同比增長 6%，這導致毛利率（衡量銷售盈利能力的指標）從 33.8% 降至 33%。</p>
<p>公司確認其全年可比銷售增長的指導預期約為持平至 2%，而總銷售增長的展望保持在 2.5% 至 4.5% 不變。</p>
<p>D.A. Davidson 的分析師 Michael Baker 表示，重申的指導可能是 “温和積極的”，因為與伊朗戰爭持續相關的消費者壓力 “可能導致下滑”。</p>
<p>第一季度的淨收入同比下降 4.2%，降至 32.9 億美元，而調整後的每股收益（不包括非經常性項目）從 3.56 美元降至 3.43 美元，但超出分析師預期的 3.41 美元。</p>
<p>全年調整後每股收益增長的展望保持在持平至 4%。</p>
<p>該股票在 2026 年下跌了 12.3%，而競爭對手 Lowe's（LOW）的股票下跌了 9.3%，標準普爾 500 指數（SPX）上漲了 7.8%。</p>
<p>-Tomi Kilgore -Bill Peters</p>
<p>此內容由 MarketWatch 創建，MarketWatch 由道瓊斯公司運營。MarketWatch 與道瓊斯新聞社和《華爾街日報》獨立出版。</p>
<p>（完）道瓊斯新聞社</p>
<p>05-19-26 1320ET</p>

家得寶

美國房產主題 ETF - SPDR

住房建設 3 倍做多 ETF - Direxion

美國房產建設 ETF - iShares

<p>家得寶報告的利潤和總銷售額均超出預期，儘管可比銷售增長略有失利，但仍確認了全年展望。首席執行官 Ted Decker 指出，儘管消費者對大型項目持謹慎態度，但他們仍然保持參與。總銷售額增長 4.8%，達到 417.7 億美元，可比銷售增長 0.6%。公司維持全年可比銷售增長持平至 2% 的指引。在由於汽油價格上漲和房地產市場壓力引發的消費者支出擔憂中，家得寶的股票上漲了 0.7%</p>

<p>By Tomi Kilgore and Bill Peters</p>
<div class="lb-trans"><p>作者：Tomi Kilgore 和 Bill Peters</p>
</div><p>Profit and total sales beat expectations, but comparable sales growth came up a bit shy</p>
<div class="lb-trans"><p>利潤和總銷售額超出預期，但可比銷售增長略顯不足</p>
</div><p>Home Depot's stock was rising Tuesday as the retailer's earnings beat expectations and its full-year outlook was affirmed.</p>
<div class="lb-trans"><p>家得寶的股票在週二上漲，因為該零售商的收益超出預期，並確認了全年的展望。</p>
</div><p>Shares of Home Depot crept higher on Tuesday after the home- improvement giant kept its full-year outlook intact - a relief for investors worried that higher gasoline prices due to the Iran war would further crimp consumer spending and hold down a struggling housing market.</p>
<div class="lb-trans"><p>在家得寶保持全年展望不變後，該公司的股票在週二小幅上漲，這讓擔心伊朗戰爭導致汽油價格上漲會進一步壓縮消費者支出並抑制疲軟住房市場的投資者鬆了一口氣。</p>
</div><p>The retailer beat fiscal first-quarter profit and total sales expectations but reported comparable sales that rose less than forecast, as more shoppers remain reluctant to commit to bigger, costlier projects.</p>
<div class="lb-trans"><p>該零售商的財年第一季度利潤和總銷售額超出預期，但報告的可比銷售增長低於預測，因為更多的消費者仍然不願意投入更大、更昂貴的項目。</p>
</div><p>&#34;The underlying demand in our business was relatively similar to what we saw throughout fiscal 2025, despite greater consumer uncertainty and housing affordability pressure,&#34; said CEO Ted Decker.</p>
<div class="lb-trans"><p>首席執行官 Ted Decker 表示：“儘管消費者的不確定性和住房可負擔性壓力加大，但我們業務的基本需求與我們在 2025 財年看到的相對相似。”</p>
</div><p>During Home Depot's earnings call, Decker said that while consumers were holding back on larger projects, they were &#34;engaged across more departments&#34; during the first quarter than the company had seen previously.</p>
<div class="lb-trans"><p>在家得寶的財報電話會議上，Decker 表示，儘管消費者在大型項目上有所保留，但他們在第一季度的參與度比公司之前看到的更高。</p>
</div><p>Comparable big-ticket purchases - those that cost more than $1,000 - were up 0.8% during the first quarter. That increase was a bit of a slowdown from the gains seen in the fourth quarter, as homeowners hold off on renovations that aren't deemed essential.</p>
<div class="lb-trans"><p>第一季度可比大宗商品購買（即價格超過 1000 美元的商品）增長了 0.8%。這一增幅略低於第四季度的增長，因為房主們推遲了那些不被視為必要的翻新。</p>
</div><p>However, Decker said Home Depot's consumers were holding up overall, despite the price shocks they've dealt with over the past several years and the higher interest rates that have kept the housing market frozen. A sales pickup in early May as weather improved provided reason for optimism about consumer engagement.</p>
<div class="lb-trans"><p>然而，Decker 表示，儘管消費者在過去幾年面臨價格衝擊和高利率使住房市場停滯，家得寶的消費者整體表現良好。隨着天氣改善，5 月初的銷售回升為消費者參與提供了樂觀的理由。</p>
</div><p>&#34;You look at our core customer, they're probably amongst the healthiest of all consumers,&#34; he said. &#34;They tend to own their homes. They did have that 50% value pop in the value of their homes over the past several years. And their portfolios in equities have also improved.&#34;</p>
<div class="lb-trans"><p>“你看看我們的核心客户，他們可能是所有消費者中最健康的，” 他説。“他們往往擁有自己的房屋。在過去幾年中，他們的房屋價值上漲了 50%。他們的股票投資組合也有所改善。”</p>
</div><p>Home Depot shares rose 0.7% as of early afternoon on Tuesday. The shares gained 0.8% on Monday, after closing Friday at their lowest price since November 2023.</p>
<div class="lb-trans"><p>截至週二下午早些時候，家得寶的股票上漲了 0.7%。週一，股票上漲了 0.8%，在週五收盤時達到了自 2023 年 11 月以來的最低價。</p>
</div><p>For the quarter to May 4, comparable sales, or sales of stores open for more than a year, rose 0.6% from a year ago, the fourth straight quarter of growth. But the results missed the average analyst estimate compiled by FactSet of 0.8% growth. Sales in U.S. stores increased 0.4%.</p>
<div class="lb-trans"><p>截至 5 月 4 日的季度，可比銷售（即開業超過一年的商店銷售）同比增長 0.6%，這是連續第四個季度的增長。但這一結果低於 FactSet 彙編的分析師平均預期的 0.8% 增長。美國商店的銷售增長了 0.4%。</p>
</div><p>Total sales rose 4.8% to $41.77 billion, above the FactSet consensus of $41.59 billion.</p>
<div class="lb-trans"><p>總銷售額增長了 4.8%，達到 417.7 億美元，超過 FactSet 一致預期的 415.9 億美元。</p>
</div><p>The cost of sales rose 6% from a year ago, which reduced gross margin, a measure of how profitable sales are, to 33% from 33.8%.</p>
<div class="lb-trans"><p>銷售成本同比增長 6%，這導致毛利率（衡量銷售盈利能力的指標）從 33.8% 降至 33%。</p>
</div><p>The company affirmed its full-year guidance for comparable sales growth of approximately flat to 2%, while the outlook for total sales growth was held steady at 2.5% to 4.5%.</p>
<div class="lb-trans"><p>公司確認其全年可比銷售增長的指導預期約為持平至 2%，而總銷售增長的展望保持在 2.5% 至 4.5% 不變。</p>
</div><p>D.A. Davidson analyst Michael Baker said the reiterated guidance was perhaps &#34;mildly positive,&#34; in that the pressure on consumers associated with the continuation of the Iran war &#34;could have led to a downtick.&#34;</p>
<div class="lb-trans"><p>D.A. Davidson 的分析師 Michael Baker 表示，重申的指導可能是 “温和積極的”，因為與伊朗戰爭持續相關的消費者壓力 “可能導致下滑”。</p>
</div><p>Net income for the first quarter fell 4.2% from a year ago to $3.29 billion, while adjusted earnings per share, which excludes nonrecurring items, slipped to $3.43 from $3.56 but beat analyst expectations of $3.41.</p>
<div class="lb-trans"><p>第一季度的淨收入同比下降 4.2%，降至 32.9 億美元，而調整後的每股收益（不包括非經常性項目）從 3.56 美元降至 3.43 美元，但超出分析師預期的 3.41 美元。</p>
</div><p>The outlook for full-year adjusted EPS growth was kept at flat to 4%.</p>
<div class="lb-trans"><p>全年調整後每股收益增長的展望保持在持平至 4%。</p>
</div><p>The stock has dropped 12.3% in 2026, while shares of rival Lowe's (LOW) have lost 9.3% and the S&amp;P 500 SPX has gained 7.8%.</p>
<div class="lb-trans"><p>該股票在 2026 年下跌了 12.3%，而競爭對手 Lowe's（LOW）的股票下跌了 9.3%，標準普爾 500 指數（SPX）上漲了 7.8%。</p>
</div><p>-Tomi Kilgore -Bill Peters</p>
<div class="lb-trans"><p>-Tomi Kilgore -Bill Peters</p>
</div><p>This content was created by MarketWatch, which is operated by Dow Jones &amp; Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal.</p>
<div class="lb-trans"><p>此內容由 MarketWatch 創建，MarketWatch 由道瓊斯公司運營。MarketWatch 與道瓊斯新聞社和《華爾街日報》獨立出版。</p>
</div><p>(END) Dow Jones Newswires</p>
<div class="lb-trans"><p>（完）道瓊斯新聞社</p>
</div><p>05-19-26 1320ET</p>
<div class="lb-trans"><p>05-19-26 1320ET</p>
</div>

家得寶稱其客户狀況良好，但他們在某些方面有所剋制