The Atlanta-based company estimated its per-share profit to be flat to down 7 percent with adjusted earnings per share to decline by 20 percent to 26 percent. That compared with its previous guidance of profit falling 7 percent and on an adjusted basis, dropping by 26 percent.
Home Depot maintained its outlook for an approximately 9 percent sales decline, which would mean sales of about $64.9 billion.
Comparable store sales are expected to fall in the high-single-digit percentage.
The forecasts were given ahead of the company's investor and analyst conference to be hosted in Atlanta later today.