Home Depot tops Q2 earnings, reaffirms fiscal 2026 outlook

Home Depot Inc (NYSE: HD ) reported better-than-expected earnings for the second quarter on Tuesday.

The company posted quarterly earnings of $4.92 per share which beat the analyst consensus estimate of $4.73 per share.

The company reported quarterly sales of $47.861 billion which beat the analyst consensus estimate of $47.271 billion. "Our second quarter results exceeded our expectations.

We saw broad based demand across the business as customers continued to engage in smaller projects," Chief Financial Officer Richard McPhail said.

Home Depot reaffirmed its fiscal 2026 outlook for total sales growth of about 2.5% to 4.5% and comparable sales growth ranging from approximately flat to 2%.

The company also expects to open about 15 new stores.

Home Depot expects GAAP earnings of $14.23 to $14.80 per share, compared with the $14.48 analyst estimate.

Adjusted earnings guidance of $14.69 to $15.28 per share brackets the $14.96 estimate.

Sales guidance of $168.8 billion to $172.093 billion brackets the $170.958 billion estimate.

Home Depot shares rose 3.1% to trade at $347.83 on Wednesday.

These analysts made changes to their price targets on Home Depot following earnings announcement.

RBC Capital analyst Steven Shemesh maintained the stock with a Sector Perform and lowered the price target from $343 to $342.

Truist Securities analyst Scot Ciccarelli maintained the stock with a Buy and raised the price target from $369 to $373.

Considering buying HD stock? Here’s what analysts think: Photo via Shutterstock