Home Depot Q2 2026 Earnings Beat on Repair Demand

Home Depot reported fiscal second-quarter 2026 earnings on Aug. 18, 2026, that topped Wall Street estimates as steady repair-and-maintenance demand supported sales. The company reaffirmed its full-year outlook and announced a nationwide rollout of a fast-delivery service.

Quarter Results and Guidance

For the quarter ended Aug. 2, 2026, The Home Depot, Inc. (HD) reported net sales of $47.9 billion, up 5.7% from a year earlier, with comparable sales rising 1.7% globally and 1.3% in the U.S., the company said in a press release. Net earnings reached $4.8 billion. GAAP diluted earnings per share (EPS) were $4.79, while adjusted diluted EPS, which excludes amortization of acquired intangibles, was $4.92. The company attributed the results to resilient demand for smaller repair-and-maintenance projects amid a sluggish housing market.

The company filed the results in a Form 8-K under Item 2.02, attaching the earnings release as Exhibit 99.1 and designating it as furnished rather than filed under Section 18. Management reaffirmed fiscal 2026 guidance, targeting total sales growth of approximately 2.5% to 4.5% and comparable sales growth of roughly flat to 2.0%. The outlook includes about 15 new store openings, a gross margin near 33.1%, GAAP operating margin of 12.4% to 12.6%, adjusted operating margin of 12.8% to 13.0%, and adjusted diluted EPS growth of flat to 4.0%. The guidance assumes expected tariff refunds will partially offset fuel, energy, and other input costs, while housing-market conditions remain challenging but repair-and-maintenance demand stays steady.

For the first six months of fiscal 2026, Home Depot posted net sales of $89.6 billion, net earnings of $8.1 billion, and operating cash flow of $11.4 billion.

Customer behavior reflected a shift in demand: transactions declined about 1% year over year, while the average ticket rose to roughly $92.50 from $90.01, consistent with fewer large renovation projects and more targeted repair and maintenance purchases.

Express Delivery Rollout

Home Depot announced a nationwide rollout of Express Delivery, a service delivering trade-grade products and everyday DIY essentials in three hours or less for a small flat fee without requiring a subscription. The service will use more than 2,000 U.S. stores as neighborhood fulfillment hubs. The company positioned Express Delivery as the fastest delivery provider in home improvement.

The quarter’s strong results and the Express Delivery expansion highlight Home Depot’s focus on serving urgent Pro and DIY demand as the housing market cools, a strategy management says will support sales and margin targets for the year.

"Second quarter fiscal 2026 results exceeded our expectations," the company said.