Earnings Call
May 19, 2026
Q2 FY2025
EPS Estimate
3.42
EPS Actual
4.68
Post-Earnings Close
$302.44
Earnings Reaction
+0.9%
Home Depot's second quarter delivered results squarely in line with management's own expectations, though the headline numbers mask a more interesting story underneath. Total sales of $45.3 billion rose 4.9% year-over-year, with U.S. comparable sales of +1.4% representing the broadest departmental performance the company has seen in over two years, 12 of 16 merchandising departments posted positive comps, and 13 of 16 in the U.S. before FX drag in paint. Adjusted diluted EPS of $4.68 was essentially flat versus the prior year's $4.67, while GAAP diluted EPS of $4.58 compared to $4.60 in 2024. The quarter's trajectory was notably uneven: May was barely positive at +0.3% U.S. comp, June was +0.5%, and July surged to +3.3%, driven by a combination of favorable weather in the North and genuine broadening of customer engagement. Management was careful to attribute July's strength to both factors rather than claiming a structural inflection.
Report generated on May 18, 2026
AI-generated earnings analysis. Not investment advice.
Chief Executive Officer
The quarter's results reflected a combination of company-specific execution and broader sector dynamics, with management addressing several of the key debates that analysts had flagged heading into the print. Guidance commentary pointed to continued momentum in the core segments, while questions on margins and capital allocation drew more nuanced responses from the leadership team over the course of the call.
The quarter's results reflected a combination of company-specific execution and broader sector dynamics, with management addressing several of the key debates that analysts had flagged heading into the print. Guidance commentary pointed to continued momentum in the core segments, while questions on margins and capital allocation drew more nuanced responses from the leadership team over the course of the call.
The quarter's results reflected a combination of company-specific execution and broader sector dynamics, with management addressing several of the key debates that analysts had flagged heading into the print. Guidance commentary pointed to continued momentum in the core segments, while questions on margins and capital allocation drew more nuanced responses from the leadership team over the course of the call.
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