Jul. 22 at 8:18 PM
$HD tough comp but spending stable given poor sentiment - maybe baked in - chart needs to resolve
Home Depot announced plans for SRS Distribution to acquire
$GMS for
$110/share or ~
$4.3B implied EV of ~
$5.5B)
GMS reported FY24 revs of
$5.5B & adj'd EBITDA of
$615M. Transaction expected to close by YE25
Home Depot expects transaction to be accretive to adj'd EPS (ex-amortization expense) in the 1st year after close, ex-synergies
S&P: Policy uncertainty continues to plaque construction market - Fluctuating tariff policies, w/ steel & aluminum in particular, are leading to delayed investment decisions by businesses
Prices of building materials are expected to rise as a result of tariffs
President Trump when asked about a proposal to end capital gains taxes on home purchases: “We’re thinking about that"
Note: Under current tax law, single filers are exempt from paying taxes on capital gains of
$250K or less (
$500K couple filing jointly) for the sale of their primary residence
