- Home Depot Inc.
- 19 May 2026 14:47:25
Source: Sharecast
The world's largest home improvement retailer with around 2,300 locations across North America, reported sales of $41.77bn over the three months to 3 May, up 4.8% over last year, though comparable sales rose by just 0.6%.
Net earnings slipped to $3.3bn from $3.4bn, while adjusted earnings per share fell from $3.56 to $3.43, slightly ahead of the $3.41 consensus estimate.
In an interview with the Wall Street Journal, Home Depot's chief financial officer Richard McPhail said sales in certain product categories like outdoor items and paint were strong, but lumber, flooring, lighting and millwork sales were weak with consumers hesitant to invest in larger projects.
“When we talk to our customers, they do tell us that they have concerns over uncertainty and housing affordability. They point out that fuel costs are rising, mortgage rates have risen again after falling throughout 2025, and layoffs are increasing,” McPhail said.
Nevertheless, looking ahead, the company said it was still targeting total sales growth of 2.5-4.5% for the current financial year, with comparable sales growth of 0-2.0%. Adjusted earnings per share is expected to be flat to 4.0% higher than last year's $14.69.
The stock was down 1.8% at $294.48 by 1445 BST, hitting a 52-week low of $289.10 earlier on.