Home Depot Stock Poised for Rally After Q2 Earnings Report

Home Depot (HD) is set to report its Q2 2026 earnings before markets open on Tuesday, leaving investors wondering how the home improvement retail company's shares will react. Historically, HD stock has shown a positive response to earnings reports, with an average increase of 1.53% following the last eight announcements.

A chart of Home Depot's stock movement after its recent earnings reports shows that the stock kicked off this sequence on August 13, 2024, for its Q2 2024 announcement, experiencing a modest stock rise of 1.23%. The largest decline was seen on November 18, 2025, for the Q3 2025 update, resulting in a notable decrease of 6.02%.

Wall Street expects Home Depot to report adjusted earnings per share of $4.73 alongside revenue of $47.24 billion in Q2 2026. For comparison, the company posted adjusted EPS of $4.68 and revenue of $45.28 billion in Q2 2025. Analysts predict that HD stock will beat Wall Street's estimates, with its adjusted EPS having surpassed expectations in five of the past eight quarters.

The consensus rating for Home Depot is Strong Buy, based on 18 Buy and six Hold ratings over the past three months, with an average HD stock price target of $383.88, representing a potential 14.3% upside for the shares.