Home Depot Tops Q2 Earnings Amid Frozen Housing Market

Home Depot has reported its second-quarter results, exceeding Wall Street expectations in both earnings per share and revenue. The company's adjusted earnings per share (EPS) reached $4.92, surpassing the estimated $4.73, while revenue totaled $47.86 billion, higher than the predicted $47.27 billion.

Despite operating in a challenging 'frozen housing market,' Home Depot saw broad customer engagement and comparable sales growth of 1.7%, the highest since Q3 2022. CFO Richard McPhail highlighted ongoing investments to gain market share and serve customers better, while noting consumer hesitancy on larger projects due to inflation and economic uncertainty.

The company has reaffirmed its full-year 2026 guidance, expecting sales growth between 2.5% and 4.5% and operating margins of 12.4% to 12.6%. CFO McPhail attributed this expectation in part to tariff refunds that help offset rising costs.