EarningsQ2 2026 Earnings Report
CH:HD Q2 2026 EPS Results
Actual EPSCHF4.09
Consensus EPSCHF3.93
Beat/MissBeat by +CHF0.16
One Year Ago EPSCHF3.89
CH:HD Q2 2026 Revenue Results
Actual RevenueCHF39.79B
Expected RevenueCHF39.27B
Beat/MissBeat by +CHF513.60M
YoY Revenue Growth+5.71%
Earnings Announcement Details
QuarterQ2 2026
Date08/18/2026
TimeBefore Open
Conference CallTuesday, August 18, 2026
CH:HD Upcoming Earnings
Home Depot's next earnings date is estimated for November 17, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
CH:HD Q2 2026 Earnings Call
0:00 / 0:00
Q2 2026 Earnings Slide Deck
No slide deck is available for this earnings event.
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call was broadly constructive: second-quarter sales, comps, adjusted EPS, digital performance, Pro results, delivery capabilities, category breadth, and international performance exceeded expectations, while fiscal 2026 guidance was reaffirmed. However, management continued to cite pressure on large discretionary projects, historically low housing turnover, volatile demand, and significant cost headwinds that are offsetting tariff refund benefits. The highlights significantly outweighed the lowlights.Company Guidance
Quarterly Sales and Earnings Beat Expectations
Second-quarter sales were $47.9 billion, up 5.7% year over year. Total company comparable sales increased 1.7%, U.S. comps increased 1.3%, and adjusted diluted EPS rose to $4.92 from $4.68, an increase of 5.1%. Management said results exceeded expectations.
Broad-Based Category and Geographic Performance
Thirteen of 16 merchandising departments posted positive comps, including storage, electrical, hardware, power, plumbing, kitchen, paint, bath, outdoor garden, building materials, flooring, and millwork. Northern and Western U.S. divisions, Canada, and Mexico posted positive comps, with Canada and Mexico out-comping the company.
Improving Monthly Sales Momentum
Total company comps increased 1.2% in May, 1.5% in June, and 2.3% in July. U.S. comps increased 0.5% in May, 1.2% in June, and 2.2% in July. Management said the underlying performance was consistent after accounting for weather and timing effects.
Digital Sales and Engagement Growth
Total company online comp sales increased 11% year over year, marking the fifth consecutive quarter of double-digit growth. Online traffic and conversion both increased, and the app was the fastest-growing digital surface ahead of a planned refresh in the second half.
Progress on Faster Delivery
More than 65% of in-stock parcel deliveries are same day or next day. Home Depot launched Express Delivery nationwide, offering delivery on tens of thousands of products in three hours or less, with the majority of deliveries occurring in less than one hour. Over the last 18 months, U.S. delivery lead times for big and bulky products were reduced by approximately 45%, and approximately 55% of stocked big and bulky deliveries arrive within two days.
Appliance Fulfillment Expansion
Home Depot now stocks a select assortment of appliances that can reach customers the next day in certain markets. Next-day delivery coverage on key appliance SKUs has expanded to nearly 60% of the population, and management reported positive performance in those markets.
Strong Pro Customer Performance
The Pro business posted positive comps and outperformed DIY, with strength across portable power, decking, dimensional lumber, pipe and fittings, fasteners, hand tools, and concrete. Management attributed the performance to investments in systems, product assortment, job-lot quantities, delivery, sales teams, and specialized services.
Pro Ecosystem and QuoteCenter Adoption
SRS comped above the company average and posted positive comps in all verticals. Within the last 12 months, 90% of Home Depot stores closed a sale through SRS via QuoteCenter. Management said the combined Home Depot, SRS, GMS, and HVAC catalog is helping capture incremental sales from home builders, commercial customers, and remodelers.
Pro Technology and Delivery Improvements
The company reported the highest levels of on-time and complete flatbed and box truck deliveries, along with improved customer satisfaction scores. Investments include self-serve site instructions, business-hours capture, delivery tracking, project planning, an AI-powered material list builder, search, B2B tools, and a faster app experience.
Magic Apron Adoption and Customer Feedback
Magic Apron is now available in store aisles for associates and customers to find products, navigate stores, and ask project-related questions. The tool receives millions of questions per month, and management reported highly positive customer feedback.
Associate Engagement and Success Sharing
Management reported greater associate engagement, better customer satisfaction scores, and stronger sales following investments in store and associate technology. Based on first-half results, 100% of stores qualified for Success Sharing, the profit-sharing program for hourly associates.
Record Portable Power Sales
The second quarter was a record-setting sales quarter for portable power tools. Management cited Home Depot's extensive lineup of battery-powered platforms as a competitive advantage supporting continued share growth in these categories.
Strong Spring and Storage Categories
DIY strength was reported in live goods, mulch, soils, hardscapes, storage, patio, and grills. Storage also performed strongly as the company expanded branded systems and assortments, including Milwaukee PACKOUT, described as the largest national loyalty brand for Pros.
Interconnected Experience Investments
The company continued investing in store experience, on-shelf availability, innovative products, technology-enabled associate tools, fulfillment, and interconnected platforms. On-shelf availability remained at record levels, and management said these initiatives were improving customer service and reducing friction.
New Product and Supplier Initiatives
Home Depot became the exclusive big-box retail launch partner for USG's Brand UltraLight Tough Gypsum Panels and is expanding RUCO Joint Treatments across its stores. Management described the USG product as the lightest and most durable half-inch panel in the market.
Stable Underlying Gross Margin Performance
Reported gross margin was 33.7%, up approximately 25 basis points year over year. The $685 million IEEPA tariff refund benefit was largely offset by fuel, energy, and other product input costs, as well as GMS acquisition mix, and management said underlying gross margin performance was in line with expectations.
Continued Capital Allocation and Business Investment
Home Depot invested approximately $880 million in capital expenditures during the quarter and paid approximately $2.3 billion in dividends. The company opened three new stores, bringing the total store count to 2,364, and plans to continue investing approximately 2.5% of sales in capital expenditures for fiscal 2026.
Fiscal 2026 Guidance Reaffirmed
Management reaffirmed fiscal 2026 guidance, including comp sales ranging from flat to 2% growth, total sales growth of approximately 2.5% to 4.5%, SRS mid-single-digit percent organic sales growth, approximately 15 new stores, 40-50 new SRS branches, gross margin of approximately 33.1%, operating margin of approximately 12.4%-12.6%, adjusted operating margin of approximately 12.8%-13%, and diluted and adjusted diluted EPS growth of approximately flat to 4%.
CH:HD Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed