Home Depot Reports Second Quarter Results

August 18, 2026  by Karen Parrish in Business Strategy, Industry   

Net earnings for the second quarter of fiscal 2026 were $4.8 billion, or $4.79 per diluted share, compared with net earnings of $4.6 billion, or $4.58 per diluted share, in the same period of fiscal 2025.

Adjusted⁽¹⁾ diluted earnings per share for the second quarter of fiscal 2026 were $4.92, compared with adjusted diluted earnings per share of $4.68 in the same period of fiscal 2025.

"Our second quarter results exceeded our expectations. We saw broad based demand across the business as customers continued to engage in smaller projects," said Richard McPhail, Executive Vice President and Chief Financial Officer. 

"This quarter's results were a testament to our investments across the business and our associates' focus on customer service. Our teams did an exceptional job executing throughout a dynamic environment, and I would like to thank them for their continued hard work and dedication," said Ann-Marie Campbell, Senior Executive Vice President.

Fiscal 2026 Guidance

The Company reaffirms its fiscal 2026 guidance. Guidance includes IEEPA tariff refunds, which are expected to partially offset unplanned fuel, energy, and other product input costs throughout the fiscal year.

- Total sales growth of approximately 2.5% to 4.5%

- Comparable sales growth of approximately flat to 2.0%

- Approximately 15 new stores

- Gross margin of approximately 33.1%

- Operating margin of approximately 12.4% to 12.6%

- Adjusted⁽¹⁾ operating margin of approximately 12.8% to 13.0%

- Effective tax rate of approximately 24.3%

- Net interest expense of approximately $2.3 billion

- Diluted earnings-per-share to grow approximately flat to 4.0% from $14.23 in fiscal 2025

- Adjusted⁽¹⁾ diluted earnings-per-share to grow approximately flat to 4.0% from $14.69 in fiscal 2025

- Capital expenditures of approximately 2.5% of total sales

The Home Depot will conduct a conference call today at 9 a.m. ET to discuss information included in this news release and related matters. The conference call will be available in its entirety through a webcast and replay at ir.homedepot.com/events-and-presentations.

At the end of the second quarter, the company operated a total of 2,364 retail stores and over 1,340 SRS locations across all 50 states, the District of Columbia, Puerto Rico, the U.S. Virgin Islands, Guam, 10 Canadian provinces and Mexico. The Company employs over 470,000 associates. The Home Depot's stock is traded on the New York Stock Exchange (NYSE: HD) and is included in the Dow Jones industrial average and Standard & Poor's 500 index.