US home improvement retailer Home Depot announced its second-quarter financial results on August 18, reporting a revenue of $47.86 billion, a 5.7% increase from the same period last year, surpassing analysts’ expectations of $47.27 billion. The company’s net profit also rose from $4.6 billion in the same period last year to $4.8 billion, with diluted earnings per share at $4.79 compared to $4.58 in the previous year.
The financial report also revealed that Home Depot’s same-store sales increased by 1.7%, with US same-store sales growing by 1.3%. Richard McPhail, the company’s Senior Executive Vice President and Chief Financial Officer, stated in the financial news release that the second-quarter performance exceeded expectations, attributed to customers continuing smaller home projects and stable demand across various business sectors. He also emphasized that employee service and past investments in the business contributed to driving performance.
Home Depot’s product line ranges from items priced from a few dollars to several thousand dollars. According to the financial report, for the second quarter of the 2026 fiscal year ending on August 2, the average customer spending was $92.50, a 2.8% increase from $90.01 in the same period last year.
Both the financial report and statements from the company’s management indicate that consumers, facing high-interest rates and housing affordability challenges, tend to allocate budgets towards smaller projects like paint, yard maintenance, repairs, and equipment replacements.
Home Depot maintains its full-year performance guidance, expecting same-store sales to remain flat or increase by 2%, with adjusted earnings per share to remain flat or increase by 4%.
According to Reuters, Home Depot’s CEO Ted Decker is currently on temporary sick leave and is expected to return within the next few months, hence he will not participate in the conference call for the release of this financial report.