Home Depot Q2 Sales Rise 5.7% to $47.9 Billion as Smaller Projects Offset Housing Slump

Home Depot reported second-quarter fiscal 2026 sales of $47.9 billion, up 5.7% from a year earlier and ahead of Wall Street expectations, as homeowners leaned into spring maintenance and smaller outdoor projects despite a frozen housing market. Comparable sales rose 1.7%, beating the roughly 1% analysts had forecast, while U.S. comparable sales climbed 1.3% against an expected 0.9% gain. Outdoor categories including live goods, mulch, patio furniture, and grills were key drivers of momentum.

Net earnings came in at $4.8 billion, or $4.79 per diluted share, up from $4.6 billion, or $4.58 per share, in the same period last year; adjusted diluted EPS was $4.92. Customers visited stores less frequently during the quarter but spent more on each trip. With results topping estimates on both the top and bottom lines, the company reaffirmed its full fiscal 2026 outlook, calling for total sales growth of approximately 2.5% to 4.5%, comparable sales growth of roughly flat to 2.0%, and diluted EPS growth of approximately flat to 4.0% from last year's $14.23 base.

Home Depot stock gained following the report, reflecting investor relief that smaller-project demand is compensating for the prolonged slump in existing-home sales and broader housing sector weakness.