Home Depot Exceeds Earnings Expectations as Shares Rise 3.1%

Home Depot Inc (NYSE:HD) released its Q2 earnings report on Tuesday, beating analyst consensus estimates. The company reported quarterly earnings of $4.92 per share and sales of $47.861 billion, exceeding expectations.

The company's Chief Financial Officer Richard McPhail stated that 'Our second quarter results exceeded our expectations. We saw broad based demand across the business as customers continued to engage in smaller projects.'

Home Depot reaffirmed its fiscal 2026 outlook for total sales growth of about 2.5% to 4.5%, and comparable sales growth ranging from approximately flat to 2%. The company also expects to open about 15 new stores.

The company's shares rose 3.1% to trade at $347.83 on Wednesday, following the earnings announcement. Analysts have made revisions to their price targets on Home Depot stock. RBC Capital analyst Steven Shemesh lowered his price target from $343 to $342, while Truist Securities analyst Scot Ciccarelli raised his price target from $369 to $373.

Home Depot expects GAAP earnings of $14.23 to $14.80 per share and adjusted earnings guidance of $14.69 to $15.28 per share. The company's sales guidance is between $168.8 billion and $172.093 billion.