Shares of Home Depot (HD) are on the move Tuesday after the company posted its first-quarter earnings report, revealing revenue of $36.42 billion against an expected $36.66 billion, marking a 2.3% drop year-over-year. In addition, the report noted lower foot traffic and smaller ticket sizes.

Yahoo Finance Senior Reporter Brooke DiPalma joins Wealth! to break down the home improvement retailer's quarterly results.

For more expert insight and the latest market action, click here to watch this full episode of Wealth!

This post was written and updated by Nicholas Jacobino

Video Transcript

Let's take a look at one stock that is trending here this morning and that's Home Depot shares are a bit of pressure.

It did miss revenue expectations falling just a bit short.

You're looking at losses of about 8/10 of a percent.

The Home Improvement stock under some pressure after spending after consumers spent less on home improvement for the quarter.

Yahoo Finance senior reporter Brooke Dipalma is in the newsroom with a breakdown.

Brooke.

Yeah.

Good morning Shana.

We're seeing shares down roughly 1% of pre market trading here as investors digest yet another quarter of soft than expected sales from the home improvement retailer.

Now, the company did report a 2.8% drop in sales and a 3.2% decline here in the US alone as consumers pushed off those larger discretionary projects.

Yet again, this as interest rates and inflation have remained high causing consumers to think twice before heading to the stores.

During this past quarter.

They did visit the Home Improvement retailer, Home Depot less and when they did go, they spent less and that caused foot traffic to drop roughly roughly 1% in the quarter.

And ticket sizes came in 1.3% less compared to last year.

Now, cold and wet weather also cause a delay to the key spring selling season at Home Depot and investors though they are somewhat encouraged that the management did reiterate its full year guidance with total sales growth of 1% and a comparable sales sales growth which takes out store openings and closures to drop 1%.

And so really uh investors really digesting here.

The call is still underway.

We'll continue to monitor it this morning.

Thank you, Brooke a lot to track on shares of HD here today.

Stay tuned for more of our coverage on Home Depot earnings.

Former Ceo Bob Nardelli will join our flagship show Catalysts at 11:15 a.m. Eastern.

If you don't want to miss that.

Uh 10 a.m. 1015 AM Eastern.

Excuse me, because that's what time Catalyst is.

And I host the show that's at 11.

It's a different show.

Yeah.