The Home Depot (HD) has reported financial results for this year’s second quarter that beat Wall Street forecasts across the board.
The home improvement retailer announced earnings per share (EPS) of $4.92 U.S., which topped the consensus estimate among analysts of $4.73 U.S.
Revenue in the April through June quarter totaled $47.86 billion U.S., which came out ahead of the $47.27 billion U.S. expected on Wall Street. Sales were up 1.7% from a year ago.
Looking ahead, management at Home Depot reaffirmed the company’s 2026 guidance despite what they called a “frozen housing market” in the U.S.
Executives with Home Depot added that the company should benefit from tariff refunds this year, which should “partially offset unplanned fuel, energy, and other product input costs.”
The retailer continues to expect total sales growth for this year of 2.5% to 4.5%, along with an operating margin between 12.4% and 12.6%.
Home Depot has struggled with lower housing turnover, higher mortgage rates, and economic uncertainty that has led customers to put off projects that come with buying a new house.
Earlier in August, the company announced that Chief Executive Officer (CEO) Ted Decker is taking a medical leave of absence for a few months.
In Decker’s absence, Ann-Marie Campbell, Home Depot’s senior executive vice president of U.S. stores and operations. will oversee daily operations.
At the same time, Chief Financial Officer (CFO) Richard McPhail will head the financial management of Home Depot until Decker returns, said the company.
HD stock has declined 14% over the past 12 months to trade at $337.88 U.S. per share.
