CNBC's Courtney Reagan joins 'Squawk Box' to report on the company's quarterly earnings results.

Home Depot released its third quarter results, reporting adjusted earnings of $3.74 per share, which fell short of analyst estimates by $0.10. Revenue reached $41.35 billion, slightly above expectations, but the company lowered its full-year guidance, now forecasting 3% sales growth and a 5% decline in earnings per share.

The company attributed the weaker performance to a lack of major storms, which typically drive demand for repair products, and ongoing consumer uncertainty amid high interest rates and a tight housing market. Comparable sales growth was minimal, and Home Depot noted that anticipated demand acceleration did not materialize. This marks the third consecutive quarter the company has missed earnings expectations, a rare occurrence in its recent history.

Home Depot cuts earnings outlook as demand falls short

I'm watching Home Depot closely in the bid and the ask. It's headed down at this point. $3.51 is the bid out with third quarter results and Courtney Reagan joins us now with those details. At first blush, not being that well received, but it's early. Yeah, it is early. This is a down component though, so it is an important one for the market writ large. I mean, Home Depot is reporting a mixed quarter here for the third quarter. Earnings of $3.74 adjusted. That is 10 cents below the streets estimates on revenues of 41.35 billion. So that's better than the $41.1 billion expectation. Though $900 million of that is from the newly acquired GMS business. Now the home fruit retailer is lowering its guidance with one quarter left. It's now forecasting sales growth of 3% and a 5% earnings decline. That's below with their previous 3% earnings decline. This implies $14.48 of full year earnings. The street was expecting $14.99, so this is reflective of both a weaker third quarter that they're reporting here, but also looking below the streets estimates for the fourth quarter. So total comparable sales coming in up 0.2% for the largest US segment. Com sales are up just 0.1%. Barely positive is the fourth straight quarter of growth just by a hair and well off expectations for growth of more than 1.4%. I spoke briefly with Chief Financial Officer Richard McPhail. He said there were two big issues that really pressure results in the quarter. McPhail said the absence of storms think hurricanes puts pressure on categories like roofing, plywood and generators. Comps fell meaningfully in October. He also explained that hurricane related sales were higher in the fourth quarter last year than in the third quarter, so this impact will be amplified next quarter. Secondly, McPhail said we had anticipated that demand would begin to accelerate gradually in the back half of the year as interest rates and mortgage rates eased. But what we saw was that ongoing consumer uncertainty and continued pressure on housing are disproportionately impacting home improvement demand, so that acceleration didn't happen. Now, Home Depot has changed its messaging around pricing from tariff influences, originally saying it didn't generally intend to increase prices for this quarter. McPhail said, look, there were price actions. They were modest. And, you know, we don't think that there were any impacts to how our customers viewed the cost of their overall project. So some interesting details here. It's weird to think about a storm positively impacting results sort of because it feels like such a negative personal event. But when you have people that have to repair roofs and rebuild homes and structures, it is a really big deal to the country's largest home improvement retailer. So when you don't have that, it was supposed to be supposed to be, you know, supposed to be a very active season, which it was not in terms of hurricane. But maybe because now they might be going into an ice age reportedly from the climate change. So Home Depot at this point, 425 was the high and it had been a real outperformer. It had. I mean, it's come down a lot. It's looked at as a very strong operator in the home improvement space, but also in general in retail. But think about this housing movement we've had for such a long time. And now we're getting to this point where people aren't moving. Interest rates are really high. Inventory is really tight. And with high interest rates and projects that might need financing, it's going to be more expensive to undertake those. And so they're saying, look, they're still delaying these larger product projects. However, the big ticket purchases did increase more than 2 percent in the quarter, and both pro and DIY sales were positive. They just didn't see an acceleration. So when I spoke with McPhail, he said, look, it was more stable from what we saw last quarter. We had thought it would go get better than stable, more or less. And it didn't. It didn't go down. It didn't go up either. There's some bad news that it's already in the stock, the way that the chart looks. So we'll see how what happens this morning throughout the trading session in a weak market. Yeah, you don't usually see. It's not an AI stock. And you don't usually see huge variation in the trades of Home Depot in any given day. You're not going to see it go up or down 10 percent. That's a pretty rare event. However, it's also a pretty rare event that they've missed earnings for three quarters in a row. We didn't. We have data back as far as 1995, and it hasn't happened since at least then, if ever. They're not really talking about tariffs and. So 50 percent of their portfolio is from is from the U.S., is from sort of this North America region, not subject to tariffs. They obviously met like many others, diversifying their supply chain. And so initially, as I mentioned, they said we don't generally intend to raise prices because of tariffs. In August, when tariffs were a little higher than their original statement, they said, OK, look, we may have to take take price as the phrase on some categories. And so I asked McPhail, did you do that? And do you think that was at all? Right. Some of the weakness that he said we did do it, but he he called the price increases modest. He does not ascribe to the theory that that was the reason. What is it? Take price. They say we have to we will take price, which means because we're raising price margin because consumers are choiceful. That's right. They share a story. Why do retailers feel like they got to use different words than the normal English language makes it feel less bad? I think it's like a McKinsey thing, like shrinkage. Yeah, they're trying to. It's like finance people use all sorts of completely ridiculous. I was efforting something yesterday and I didn't mean it. I just said it for you because you don't like it either. Everything's less finance. That's more journalists. We're going to effort to move on from here.

U.S. President Donald Trump will host Saudi Crown Prince Mohammed bin Salman at the White House, his first visit since Washington Post journalist Jamal Khashoggi was killed in 2018. The crown prince has denied any involvement.

Washington

Saudi Crown Prince Mohammed bin Salman visiting White House

The sale of the fighter jets is one of several major deals between the two countries expected to be announced during the visit.

Trump says he will sell F-35 jets to Saudi Arabia

The U.K. government has proposed a major overhaul of its asylum rules, making it easier to deport people and quadruple the amount of time it takes to become a permanent resident.

London

U.K. introduces tougher laws for asylum seekers

In a blistering opinion, a federal judge in Virginia accused Justice Department prosecutor Lindsay Halligan of misconduct, saying there was a "disturbing pattern of profound investigative missteps."

Virginia

DOJ accused of 'profound investigative missteps' in Comey case

The United Nations Security Council has voted to adopt a U.S. resolution outlining President Trump's peace plan for post-war Gaza. CBS News senior foreign correspondent Holly Williams has the details.

New York

U.N. Security Council adopts U.S. resolution on Gaza plan

The aircraft carrier USS Gerald Ford has arrived in the Caribbean, giving the United States the ability to strike inside Venezuela if President Trump gives the order. The U.S. has also sent thousands of troops to the region.

Trump 'won't rule out' sending troops to Venezuela amid rising tensions

President Trump now says Republicans should vote to release all of the files related to the federal investigation into convicted sex offender Jeffrey Epstein. CBS News' Olivia Rinaldi and Nikole Killion have the latest on what could happen next.

Trump's Epstein files reversal comes amid pressure from allies

Poland's Prime Minister Donald Tusk has called an explosion on a railway line “an unprecedented act of sabotage.” Donald Tusk did not say who he believed had carried out the attack, but a government minister said "foreign intelligence agencies" were responsible.

Warsaw

Railway line blast in Poland ‘unprecedented act of sabotage’

Ukrainian President Zelenskyy signed a landmark deal in Paris on Monday to buy 100 Rafale jets, drones, and air defense systems from France.

Paris

Ukraine signs deal with France for jets, air defense systems

The Federal Aviation Administration ended mandated cuts in domestic flights at 40 major U.S. airports, easing restrictions that had been imposed over air traffic control concerns during the federal shutdown.

FAA ends mandated cuts in domestic U.S. flights

Israeli Prime Minister Benjamin Netanyahu vowed to oppose any attempt to establish a Palestinian state, a day before the UN Security Council will vote on a U.S.-drafted resolution on Gaza that leaves the door open to Palestinian independence.

Tel Aviv-Yafo

Middle East Conflict

Netanyahu insists there can be no Palestinian state ahead of UN vote

A Bangladesh court sentenced ousted Prime Minister Sheikh Hasina to death for crimes against humanity on Monday (November 17), concluding a months-long trial that found her guilty of ordering a deadly crackdown on a student-led uprising last year.

Dhaka

Bangladesh's ousted PM sentenced to death for protest crackdown

President Donald Trump now appears to support the release of all Jeffrey Epstein files as the House of Representatives readies for a vote on the matter. CBS News' Natalie Brand reports.

House vote on Epstein files expected Tuesday

In the latest round of the Trump administration's sweeping immigration raids, federal agents arrested 81 people in Charlotte, North Carolina, on Saturday alone. In videos posted online, some who were detained said they do have legal status.

Charlotte

ICE detains dozens in Charlotte

If the bill passes, the U.S. Justice Department would be required to release all files and communications related to Epstein, as well as details about the investigation into his death in federal prison.

Trump calls on House Republicans to vote to release Epstein files

Chile heads to a December runoff after Sunday's presidential vote left no clear winner. Leftist Jeannette Jara and far-right José Antonio Kast will now face off in a race dominated by concerns over crime and migration.

Santiago

Chile leftists advance to next month's presidential runoff

Construction work of a concrete wall continued on the Israeli side of southern border with Lebanon, despite the Lebanese presidency's threat to complain to the U.N. Security Council over the wall's extension into Lebanese territory.

Israel constructs wall along Lebanon border

Venezuelan President Nicolas Maduro slammed planned joint military exercises by the United States and its ally Trinidad and Tobago as "irresponsible," with Washington increasing its armed presence in the Caribbean.

Caracas

Maduro denounces US military exercises

Despite U.S. President Donald Trump's repeated attempts to kill the effort to release federal files related to Jeffrey Epstein, House Republican leaders are planning to hold a vote this week on legislation to force the issue.

Claims Epstein emails mentioning Trump were 'selectively leaked'

President Trump says he has "sort of made up my mind" on whether to take military action in Venezuela. The comments come as America's largest aircraft carrier, the Ford, and other U.S. forces move within striking distance of the country. Charlie D'Agata has new details.

Trump says he's "sort of made up my mind" on Venezuela military action

President Trump says he will no longer support onetime close ally and Georgia congresswoman Marjorie Taylor Greene amid the ongoing fallout over the Epstein files. Willie James Inman reports.

Marjorie Taylor Greene 'threatened' by Trump supporters amid Epstein fallout

Flash flood warnings expanded on Saturday as rain hit wide swaths of California amid fears that the atmospheric river will intensify. Andres Gutierrez has the latest details.

Pacific Palisades

Rainstorm pummels California, triggering flash flood warnings

Large-scale protests at COP30 in Belém, Brazil, have drawn attention to environmental concerns and the preservation of the Amazon rainforest. Inside the summit, negotiations have been complicated by the absence of the United States.

Belém

Protesters block entrance to COP30 climate talks in Brazil

The UN climate talks in Brazil are facing increasing disruption from protesters. Thousands joined the "Great People's March" outside the conference venue to demand action on global warming instead of empty promises.

Thousands join protest at COP30 climate talks in Brazil

Air travel and other government services, including SNAP benefits, are returning to normal following the end of the longest shutdown in U.S. history.

Los Angeles International Airport

Flights begin to get back on track as shutdown ends

The U.S. military is expanding operations in the Caribbean and Puerto Rico amid its deadly boat strikes on alleged drug-smuggling boats, while the Trump administration weighs military action against Venezuela.

Trump administration weighs U.S military action in Venezuela

U.S. Secretary of Defense Pete Hegseth announced "Operation Southern Spear" in the Western Hemisphere as U.S. strikes continue in the region near Colombia and Venezuela. CBS News' Eleanor Watson reports.

Hegseth announces 'Operation Southern Spear'

The U.S. has approved the sale of $330 million worth of weapons to Taiwan as tensions rise in the region with China. CBS News' Nancy Cordes reports.

Taipei City

U.S. approves massive sale of weapons to Taiwan

Jeff Bezos's Blue Origin successfully launched its New Glenn rocket on Thursday with NASA twin spacecraft destined for Mars aboard, and in a breakthrough nailed the landing of its booster.

Cape Canaveral

Blue Origin's New Glenn rocket deploys Mars satellites

A three-person crew stranded at China’s space station after their spacecraft was apparently hit by space debris are to return Friday using the craft that brought their replacement crew.

Breakdown