Home Depot tops Q1 views, keeps 2026 outlook

Home Depot (HD) reported fiscal first-quarter 2026 results on May 19, 2026, delivering earnings and revenue above Wall Street expectations and keeping its full-year outlook unchanged. The results cover the three months ended May 3, 2026.

Net income for the quarter was $3.29 billion, with GAAP earnings per share of $3.30. Adjusted earnings per share were $3.43, above consensus estimates that had centered around $3.41.

Sales rose to $41.77 billion, up nearly 5% from $39.86 billion in the same period a year earlier. Analysts had expected about $41.5 billion in revenue, meaning the company exceeded pre-release forecasts on the top line as well.

Management said the quarter was supported by continued engagement from core homeowner customers, including seasonal spring buying. However, they noted that many shoppers are still deferring larger, big-ticket home improvement projects.

Professional customers remain central to performance. Home Depot (HD) said Pro customers account for about 50% of its revenue, underscoring the importance of contractor and trade demand alongside do-it-yourself activity.

The company’s commentary highlighted a split in demand patterns, with everyday spending showing resilience even as some larger renovation categories face softness. This provides an early read on conditions for other housing-sensitive businesses.

Alongside its first-quarter results, Home Depot reaffirmed its full-year fiscal 2026 framework. The company continues to expect total sales growth of between 2.5% and 4.5% for the year.

Home Depot also reiterated guidance for adjusted earnings per share growth of up to 4% in fiscal 2026. Maintaining this outlook signaled that management sees current trends as consistent with its existing plan.

The earnings release was issued before the market open on May 19, 2026, and the company scheduled its conference call with analysts and investors for 9:00 a.m. ET the same day to discuss results, demand drivers, and the updated business environment.

Home Depot’s results and guidance offer insight into broader housing and renovation activity. The company’s nearly 5% sales growth and stable outlook indicate ongoing demand for home improvement products and services despite selective customer pullbacks.

With Pro sales representing roughly half of revenue, trends in contractor and renovation work remain a major factor for overall performance. Management’s comments suggest that while larger projects are often delayed, underlying maintenance and smaller upgrades are holding up.

The combination of an earnings beat, reaffirmed guidance, and mixed spending patterns positions Home Depot as a key bellwether for how both homeowners and professionals are navigating the current home improvement cycle.