Small projects lift Home Depot quarterly sales, but outlook in slumping housing market is unchanged
- On Tuesday, Home Depot reported second-quarter earnings of $4.77 billion, or $4.79 per share, beating Wall Street's $4.73 prediction, while launching a nationwide three-hour delivery service for a flat fee.
- Existing home sales fell 1.7% last month to 4.06 million units as record prices and high mortgage rates create hurdles for buyers, the National Association of Realtors reported last week.
- Chief Financial Officer Richard McPhail noted broad-based demand for smaller projects, while customer transactions slipped 1% in the quarter but average receipts rose to $92.50 from $90.01 a year earlier.
- Home Depot stock rose 1.4% before market open as the company maintained 2026 sales growth guidance between 2.5% and 4.5%, with comparable sales expected flat to up 2%.
- The Atlanta company reported revenue of $47.86 billion, edging out FactSet projections, as Americans continue facing difficulty buying homes due to steeper borrowing costs and record prices.
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Home Depot customers stick to smaller projects as housing costs stay high
Home Depot customers are still spending on their homes, with smaller projects supporting demand as Americans contend with elevated mortgage rates and high home prices.The home improvement retailer said Tuesday that second-quarter sales rose 5.7% from a year ago to $47.9 billion, while comparable sales increased 1.7%. Comparable sales in the U.S. climbed 1.3%. The results came as consumers continued to favor smaller-scale home improvement work ov…
Home Depot posts solid 2nd quarter gains, but housing slump leaves outlook unchanged for rest of 2026
Home 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.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.Globally, sales at stores open at least a year, a key indicator of a retailer’s health, climbed 1.7%. In the U.S., comparable …
Home Depot Q2 2026 Earnings Call Transcript - Home Depot (NYSE:HD)
Home Depot (NYSE:HD) reported second-quarter financial results on Tuesday. The transcript from the company's second-quarter earnings call has been provided below. Benzinga APIs provide real-time access to earnings
The Globe & Mail
Small projects lift Home Depot quarterly sales, but outlook in slumping housing market is unchanged
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