Investors will get a look at both ends of the lumber supply chain next week as lumber prices soar. On the consumer end, Home Depot (HD) and Lowe’s (LOW) tee up to report earnings. On the production side, lumber stocks Louisiana-Pacific (LPZ) and Boise Cascade (BCC) are also on tap amid soaring lumber prices. Home Depot stock fell Friday.
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Lumber prices have swung wild in the past two years and are now rebounding. Current prices are about three-times their pre-pandemic levels, but still more than 20% below their record high from May last year. Current lumber prices add nearly $19,000 to the price of a newly built home, vs. pre-pandemic costs, according to National Association of Home Builders estimates.
Home Depot Earnings
Estimates: Wall Street expects Home Depot earnings to grow 20% to $3.18 per share. Revenue for the Dow Jones home improvement giant is seen growing 8% to…
