Home Depot Earnings Test Pro Demand vs Housing

Home Depot, Inc. (NYSE: HD) will report second-quarter fiscal 2026 earnings before the U.S. market opens on August 18, followed by Lowe's Companies, Inc. (NYSE: LOW) on August 19. The reports will test whether growth in professional (Pro) and online sales can offset weak housing activity and sustain full-year guidance.

Earnings Schedule and Access

Home Depot’s earnings cover the quarter ended August 2, its largest selling season tied to the spring–summer home-improvement cycle. Both companies will hold conference calls around 9:00 a.m. ET on their respective report days, concentrating management commentary during market open. Lowe's said in a press release on August 12 that supplemental materials will be available 15 minutes before its call, with a webcast replay accessible from noon ET on August 19 through August 18, 2027.

Comps, Margins, and Guidance

Analysts expect Home Depot’s second-quarter earnings per share (EPS) to range from $4.71 to $4.73 on revenue near $47.2–$47.5 billion, implying 3.8–4.9% year-over-year sales growth versus about $45.3 billion in the prior-year quarter. This suggests stronger top-line growth than EPS expansion, highlighting investor focus on whether revenue gains translate into profit.

In the prior quarter, Home Depot posted revenue near $41.8 billion, up 4.8% year over year, with EPS of $3.43 and same-store sales up 0.6%. In the second quarter of fiscal 2025, the company reported diluted EPS of $4.68 and comparable sales growth of about 1.0% globally and 1.4% in the U.S., benchmarks for seasonal strength and margin leverage.

Secondary summaries characterize Home Depot’s full-year 2026 outlook as total sales growth of 2.5–4.5%, comparable sales flat to up 2%, and adjusted EPS flat to up 4% from a 2025 base of $14.69, implying an EPS range of $14.69–$15.28. Analysts view this as steady rather than high growth, making management’s commentary on the calls a key market focus.

Lowe's is expected to report second-quarter EPS around $4.24–$4.26 on revenue near $26.2 billion. The company has guided full-year EPS between $12.25 and $12.75, with consensus near $12.48. Previews emphasize whether rapid online expansion and rising Pro penetration can offset softer do-it-yourself (DIY) spending and how that mix will affect margins and guidance.

The macroeconomic backdrop is mixed. July U.S. retail sales fell 0.6% to $763.6 billion, the largest monthly drop since May 2025, while building-materials and garden-equipment dealers recorded a 0.3% month-over-month increase and a 6.7% year-over-year gain, leaving the May–July quarter up 6.0%. This divergence reflects resilient contractor and maintenance spending amid broader retail softness.

Previews highlight that strong Pro demand, big-ticket purchases, and digital momentum could partially offset weaker DIY activity linked to high mortgage rates and lower housing turnover. Investors will watch comparable sales, gross and operating margins, and whether management reaffirms or revises full-year guidance. The tone and detail of the calls should indicate how durable any Pro-led momentum appears.

“Lowe's Companies, Inc. (NYSE: LOW) announced today that it will hold its Second Quarter 2026 Earnings Conference Call at 9 a.m. Eastern time on Wednesday, Aug. 19.” — Lowe's Companies, Inc. [source:1]