The Home Depot, Inc. (HD) Earnings Call Transcripts

The Home Depot, Inc.'s Latest Earnings Call - Q2 FY2027

In the second quarter of fiscal 2026, The Home Depot reported revenues of $47.9 billion, a 5.7% increase year-over-year, with adjusted diluted earnings per share of $4.92, surpassing last year's $4.68. The results exceeded management's expectations, driven by broad-based demand despite ongoing consumer uncertainty and housing affordability challenges. The company reaffirmed its fiscal 2026 guidance, projecting comp sales growth of flat to 2% and total sales growth of approximately 2.5% to 4.5%.

Reported metrics

Guidance from management

Management reaffirmed fiscal 2026 guidance, expecting comp sales growth of flat to 2% and total sales growth of approximately 2.5% to 4.5%. They anticipate continued market share growth driven by competitive advantages.

What management said

And so Chuck, just to get back to your question, because we expect the tariff refunds to be fully offset by the incremental cost pressure that Billy called out. We've reaffirmed our guidance for the year. And so while you might see some timing, some lapping next year on a quarterly basis that we'll need to take you through, there shouldn't be a lap from an annual perspective when we head into 2027.

Great. Yes. Look, we were really pleased to see -- so that gap between telecom and cap in the U.S. First, it reflects FX benefit of about 25 basis points. But we also had fantastic performance internationally and at SRS and maybe we'll talk about what we're seeing internationally.

What analysts pressed on

Analysts expressed concerns regarding ongoing cost pressures, particularly from fuel and energy, and the potential impact on future margins. There were also questions about the sustainability of comp sales growth given the current housing market conditions.

Main topics on the call

• Revenue Growth — Home Depot achieved $47.9 billion in sales for Q2 2026, marking a 5.7% increase from the previous year. Management noted, 'Our second quarter results exceeded our expectations and our teams did a great job executing thro...
• Comp Sales Performance — Comp sales increased by 1.7% year-over-year, with U.S. comps up 1.3%. Management highlighted that 'in the U.S., our Northern and Western divisions posted positive comps.'
• Tariff Refund Impact — The company received $730 million in tariff refunds, which reduced COGS by $685 million, providing a significant boost to gross margin. Richard McPhail stated, 'The $685 million reduction in COGS was about a 145 basis po...
• Online Sales Growth — Total company online comp sales grew by 11%, marking the fifth consecutive quarter of double-digit growth. This growth was attributed to ongoing investments in digital platforms.

Read the full The Home Depot, Inc. transcript (Q2 FY2027) → Summary generated from the call transcript; every figure above is stated by management on the record.

Earnings Call History

EarningsCalls.dev has 51 The Home Depot, Inc. earnings call transcripts on record, spanning February 25, 2020 to August 18, 2026. Based on this history, The Home Depot, Inc. reports quarterly. The most recent call on file is dated August 18, 2026. The full list is below — each row opens the complete, free-to-read transcript.

Ticker

HD

Exchange

NYSE

Country

US

Sector

Consumer Discretionary

Industry

Specialty Retail

Calls on record

51

First call

February 25, 2020

Most recent

August 18, 2026

Reporting cadence

quarterly