Home Depot Earnings Beat Sends Stock Higher Amid Challenging Housing Market

Home Depot stock rose 0.7% in mid-day trading after the home improvement giant beat earnings expectations on both top and bottom lines for its fiscal second-quarter results.

The company reported adjusted earnings per share of $4.92, well ahead of analyst predictions of near $4.73, and revenue of $47.86 billion surpassing consensus estimates of roughly $47.27 billion.

Comparable store sales rose 1.7% companywide, the strongest quarterly comp growth since late 2022, with U.S. comps up 1.3% and online sales climbing 11%, marking the fifth straight quarter of double-digit digital growth.

Despite a challenging housing market, Home Depot reaffirmed its full fiscal-year guidance, projecting comparable sales of approximately flat to up 2% and adjusted earnings per share of roughly flat to up 4%.