Home Depot revenue, EPS seen rising as investors eye CEO absence

Shares of Home Depot fell 0.4% on Monday ahead of quarterly results before the bell on Tuesday, with investors focused on management stability following the CEO's temporary medical leave.

The home improvement retailer is expected to post quarterly revenue up 4% to $47.27 billion and adjusted EPS of $4.73 compared with $4.68 a year ago, according to LSEG.

The company announced on Aug. 12 that CEO Ted Decker would take a temporary medical leave, with CFO Richard McPhail and EVP Ann-Marie Campbell overseeing CEO operations in his absence.

In its previous quarterly report, Home Depot warned Americans were scaling back large remodeling projects as they grappled with mounting macroeconomic uncertainty and a subdued housing market strained by affordability pressures.

Home Depot shares have fallen about 2% year to date, underperforming the S&P 500's 13% rise. The stock recently traded at about 22 times forward earnings, in line with its five-year average, according to LSEG.