Home Depot Reports Stronger-than-Expected Q2 Earnings Amid Economic Challenges
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Home Depot reported stronger-than-expected second-quarter sales and profit as homeowners spent money on smaller do-it-yourself projects, giving the home-improvement retailer enough confidence to reaffirm its full-year outlook.
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FortuneHome Depot’s sales improved during its second quarter as customers focused on smaller projects during the summer months with the U.S. housing sector still mired in a slump.
BloombergHome Depot Beats Estimates on Faster Sales Growth Home Depot’s results beat estimates in the second quarter, as comparable sales, which measure results at stores open for at least a year, rose 1.7%, while adjusted earnings also surpassed expectations. Lindsay Dutch of Bloomberg Intelligence has more on Bloomberg Television. (Source: Bloomberg)
CNBCHome Depot on Tuesday reported fiscal second-quarter results that beat Wall Street expectations on the top and bottom lines and reaffirmed its full fiscal year guidance.
MarketWatchShares of Home Depot rose early Tuesday after the retailer’s second-quarter results beat Wall Street expectations even as customers continued to prioritize smaller home-improvement projects over more complex and costly ones.
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Home Depot has been pressured by lower housing turnover, higher mortgage rates and economic uncertainty as customers have put off projects that come with buying a new home. Still, the company has been trying to attract more pro shoppers, a cohort that executives have previously said is largely unaffected by the macroeconomic conditions.
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ZeroHedgeThe frozen housing market, combined with elevated borrowing costs, has deterred homeowners from financing larger renovations, such as replacing exterior windows and doors or installing a new deck, and has also pressured Home Depot shares over the past year and a half.
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Home Depot said that its outlook includes tariff refunds, which are expected to partially offset higher fuel, energy, and other product input costs throughout the year. Last year, the company said that it didn’t expect to raise prices because of tariffs, but executive Billy Bastek said at the time that some products that were on Home Depot shelves may disappear.
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CNBCHome Depot also reaffirmed its fiscal 2026 guidance, which it said includes tariff refunds that are "expected to partially offset unplanned fuel, energy, and other product input costs." McPhail added that the tariff refunds allow the retailer to "maintain value" despite cost pressures in other areas.
ZeroHedgeHome Depot maintained its forecast for annual revenue growth of 2.5% to 4.5%, with comparable sales ranging from unchanged to 2% higher. The company said tariff refunds should help offset rising fuel costs.
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For the three months ended Aug. 2, Home Depot earned $4.77 billion, or $4.79 per share. A year earlier the home improvement retailer earned $4.55 billion, or $4.58 per share.
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CNBCThe home improvement retailer reported net income of $4.77 billion, or $4.79 per share, compared with $4.55 billion, or $4.58 per share, the year prior. Excluding one-time items, Home Depot reported adjusted earnings per share of $4.92.
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Independent claims that didn't surface elsewhere in our corpus. Treat as supplementary — not corroborated across outlets.
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01 ZeroHedge Comparable sales increased 1.7% in the quarter, beating the Bloomberg consensus estimate for a 0.94% gain. Revenue rose 5.7% to $47.86 billion, while adjusted earnings of $4.92 a share topped the $4.73 consensus estimate.
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02 CNBC "We continue to operate in what I call 'frozen housing market' conditions, but we also know that we're taking share and that we're serving our customers better every day," CFO Richard McPhail told CNBC. "It's a reflection of the continued investment we've made and the focus on executing our strategy."
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03 MarketWatch Earnings Results Home Depot revenue rises even as customers turn away from bigger projects
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04 Fortune Revenue increased to $47.86 billion from $45.28 billion, edging out the $47.24 billion that Wall Street had expected, according to a survey by FactSet.
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