The retailer exceeded earnings and revenue estimates but maintained guidance due to persistent housing market uncertainty and cautious consumer spending.
Home Depot reported fiscal second-quarter adjusted earnings of $4.92 per share and revenue of $47.86 billion, surpassing Wall Street expectations of $4.73 and $47.27 billion, respectively. Net income for the quarter reached $4.77 billion.
Despite the beat, the company reaffirmed its full-year guidance, citing ongoing challenges in the housing market and consumer hesitancy toward large projects. CFO Richard McPhail noted broad engagement across categories but highlighted concerns over inflation and economic uncertainty.
Shares showed limited reaction in after-hours trading as investors weighed the strong quarter against the cautious outlook.