Home Depot raised its annual same-store sales forecast on Tuesday, betting on resilient demand from professional contractors to offset weak spending on bigger projects such as kitchen renovations.

Strom damage across the Southeast accounted for higher sales to contractors, and the chain also forecast stronger results as mortgage rates drop.

Shares of Home Depot (HD) tick higher in Tuesday's pre-market trading after the company posted an earnings beat in the third quarter and raised its guidance for the full year. Home Depot saw $40.2 billion in sales in the quarter,

Home Depot reported better than expected sales during the prior three months as consumers relied on its products to help them recover from Hurricanes Helene and Milton.

Home Depot forecast a smaller drop in annual same-store sales on Tuesday, benefiting from resilient demand from professional contractors, as well as a lift from hurricane-related spending. Shares of the top U.

Home Depot raises outlook on home-improvement materials, partially driven by damage caused by Hurricanes. The company expects future benefits from hurricane-related repairs, but not big ticket remodeling,

Home Depot (HD) reports strong Q3 earnings with revenue rising 6.6% year-over-year. Adjusted EPS exceeds consensus expectations.