Home Depot reports Q2 fiscal 2026 sales $47.9B, net earnings $4.8B; reaffirms fiscal 2026 guidance
Home Depot (HD) reported Q2 fiscal 2026 net sales of $47.9B, up 5.7% year over year, and net earnings of $4.8B, or $4.79 per diluted share. Adjusted diluted EPS was $4.92. Comparable sales rose 1.7%. The company reaffirmed fiscal 2026 guidance for sales growth of ~2.5% to 4.5% and adjusted operating margin of ~12.8% to 13.0%.
How this was made
The 30-second read
Why it matters
Traders can update HD’s earnings expectations using the reaffirmed FY2026 sales growth and adjusted operating margin ranges, while monitoring whether the smaller-project customer behavior persists.
Market read
A same-day earnings and guidance reaffirmation with specific sales/EPS and margin ranges is a direct catalyst for HD positioning and near-term expectation setting.
What to watch
Guidance assumes IEEPA tariff refunds to offset input cost pressures; if those refunds are delayed or reduced, margin durability could be questioned.
Background
Home Depot’s Q2 FY2026 update includes both reported results and a reaffirmation of full-year guidance, with an explicit assumption about IEEPA tariff refunds.
Ticker impact
Home Depot reported Q2 FY2026 sales of $47.9B and net earnings of $4.8B, and reaffirmed FY2026 guidance for sales growth and operating margin.
Likely supportive for HD shares, with upside bias if investors view the reaffirmation and margin range as credible despite the shift toward smaller projects.
The article provides concrete Q2 results (sales, EPS, comps) and reiterates FY2026 sales growth (~2.5%–4.5%) and adjusted operating margin (~12.8%–13.0%), which are direct inputs to valuation and expectations.
Market effects
Reaffirmed guidance and margin range can influence sentiment across home improvement retail peers via read-across on demand and pricing/mix.
Primarily US demand signal through U.S. comparable sales (+1.3%) and store footprint expansion.
Limited direct global impact, but it can affect broader consumer discretionary sentiment tied to housing-related spending.
Counterpoint
The mix shift toward smaller projects (transactions -1.0% while ticket +2.8%) could indicate softer underlying activity that may pressure future comps even if margins hold.
Key entities
- public_companyHome Depot, Inc.
Reported Q2 FY2026 sales, net earnings, comparable sales trends, and reaffirmed FY2026 guidance including sales growth and adjusted operating margin ranges.
