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The Home Depot, Inc. (HD) has launched an AI-powered blueprint takeoffs tool aimed at professional contractors to enhance project planning and execution. This tool significantly reduces the time required for material estimates from weeks to almost instantly, streamlining the transition from blueprint to purchasing.
This initiative is crucial for professional contractors who often face tight budgets and timelines, as delays in estimation can disrupt project flow and cash flow. By enabling quicker estimations, Home Depot positions itself as a competitive partner in the market for large-scale projects.
Home Depot shares have declined 17.4% over the past year, while the industry has seen a decrease of 22.5%. The company’s forward price-to-earnings ratio stands at 23.24, slightly higher than the industry average of 21.23, with a Zacks Rank of 4 (Sell).
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