Home Depot: Don’t Rely On SRS Acquisition Yet


  • Home Depot’s Q1 results were impacted by a delayed spring and challenging macro environment, with revenues and comparable sales declining.
  • The company’s focus on the Professional segment is facing headwinds from the high-interest rate environment.
  • Home Depot’s planned acquisition of SRS Distribution aligns with its strategy, but its impact is not expected until next fiscal year.

Woman building raised garden beds in backyard on summer afternoon

Thomas Barwick/DigitalVision via Getty Images

Investment Thesis

The last time I wrote about Home Depot (NYSE:HD), in November 2023, I talked about how the company’s investments in technology should allow it to be more efficient. However, I did raise my

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