Overview
- Home Depot reported first‑quarter results on May 19 that beat expectations with revenue of about $41.77–41.8 billion and adjusted EPS of $3.43 while reaffirming its fiscal 2026 guidance.
- Comparable‑store sales rose only modestly, with consolidated comps up 0.6% and U.S. comps up 0.4%, as transactions fell 1.3% and average ticket increased to $92.76.
- Management said underlying demand was broadly similar to fiscal 2025 and CFO Richard McPhail said homeowners are postponing larger projects, which is weighing on big‑ticket renovation sales.
- Shares briefly slipped below $290 to a two‑year low after the report and several analysts trimmed price targets, signaling investor concern about near‑term macro pressures despite the beat.
- The company is pushing deeper into its professional‑contractor business through acquisitions such as SRS Distribution, GMS and Mingledorff's to offset weak homeowner renovation demand and seek growth in the roughly $700 billion pro market.