The Home Depot announced on May 19 its financial results for the first quarter of fiscal 2026, reporting sales of $41.8 billion, which represents a 4.8% increase compared to the same period last year. Comparable sales rose by 0.6%, with U.S. comparable sales up by 0.4%. The company also reported that foreign exchange rates had a positive impact on total company comparable sales.
Net earnings for the quarter were $3.3 billion, or $3.30 per diluted share, compared to net earnings of $3.4 billion, or $3.45 per diluted share in the previous year’s first quarter. Adjusted diluted earnings per share stood at $3.43, down from $3.56 during the same period last year.
Ted Decker, chair, president and CEO of The Home Depot said: “Our first quarter results were in line with our expectations. The underlying demand in our business was relatively similar to what we saw throughout fiscal 2025, despite greater consumer uncertainty and housing affordability pressure.” Decker added: “As always, our associates provided excellent customer service during the quarter, and I would like to thank them for their continued hard work and dedication to serving our customers.”
The company reaffirmed its guidance for fiscal year 2026 with projected total sales growth between approximately 2.5% and 4.5%, comparable sales growth ranging from flat to about 2%, plans for around fifteen new stores, gross margin near 33.1%, operating margin between approximately 12.4% and 12.6%, adjusted operating margin from about 12.8% to13%, tax rate near24 .3 %, net interest expense around$2 .3 billion ,and capital expenditures at roughly2 .5 %of total sales . Diluted earnings-per-share are expected to grow approximately flat to up4 %from$14 .23 in fiscal2025 ,with adjusted diluted earnings-per-share also anticipated flat to up4 %from$14 .69 last year.
At the end of the first quarter ,the company operated2 ,361 retail stores and over1 ,280 SRS locations across all50 states,the District of Columbia ,Puerto Rico,the U.S.Virgin Islands ,Guam ,10 Canadian provinces,and Mexico.The Home Depot employs more than470 ,000 associates.Its stock is traded on the New York Stock Exchange under ticker HD,and is included in both Dow Jones industrial average and Standard & Poor’s500 index.
A conference call discussing these results will be held today at9 a.m.Eastern Time.A webcast replay will be available through ir.homedepot.com/events-and-presentations.
