Home Depot Sales Surpass Estimates as Homeowners Focus on Smaller Projects
Home Depot's sales growth in Q2 exceeded Wall Street estimates, with the company reporting $47.86 billion in revenue for the three months ended August 2.
The strong sales performance was driven by a shift in consumer behavior, as homeowners stuck in a high-rate housing market opted for smaller repair-and-maintenance projects instead of buying and selling homes.
According to Reuters, this trend is evident in the company's sales mix, with customers focusing on everyday items like paint, tools, and yard work, rather than big-ticket remodels or new house shopping.
Home Depot maintained its full-year outlook, predicting comparable sales of about flat to up 2% and adjusted earnings per share of about flat to up 4%, with tariff refunds expected to offset higher fuel and input costs.