Home Depot Beats Q2 Forecasts With $47.9 Billion Sales as 6.7% Mortgages Freeze Housing
Updated
Updated · Yahoo Finance · Aug 18
Home Depot Beats Q2 Forecasts With $47.9 Billion Sales as 6.7% Mortgages Freeze Housing
3 articles · Updated · Yahoo Finance · Aug 18
Summary
Revenue rose nearly 6% to $47.9 billion and adjusted EPS reached $4.79, both topping forecasts as Home Depot customers kept spending on smaller home-improvement jobs.
Same-store sales increased 1.7% globally and 1.3% in the U.S., with purchases above $1,000 up 2.4%; spring outdoor goods and 13 of 16 categories posted positive comparable-sales growth.
Mortgage rates near 6.7% kept larger discretionary projects under pressure, and CFO Richard McPhail said housing turnover remains at record lows with no clear inflection point.
Home Depot reiterated its 2026 outlook for 2.5% to 4.5% sales growth and flat to up 2% same-store sales; $730 million in tariff refunds helped offset higher input costs.
The results slightly lifted Home Depot shares and raise the bar for Lowe's, which is expected to report a 0.7% same-store sales increase on Wednesday.