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Home improvement giant Home Depot Inc. (NYSE: HD) will get its chance to impress Wall Street tomorrow morning when it reports its second quarter numbers before the market opens. It has been a tough couple of months for home builders recently, and tomorrow morning we will see just how hard the slowdown has been for Home Depot.If recent history is any indication, it could be an ugly day for the Atlanta based home retailer. The last time the company reported earnings was back on May 15, when it disappointed and missed estimates by 6 cents, showing earnings of 53 cents per share verse analyst estimates for 59 cents during its fiscal first quarter.
Out of the last four quarters, the company has managed to match estimates just one quarter. I wish I could say that I think this will be the quarter that the company turns things around, but I don't. The housing market has just been too brutal, and home builders have been too hard hit to put too much confidence in Home Depot's ability to come through this past quarter. Let's hope that I am wrong.
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