The home improvement retailer posted in-line results with modest comp-sales growth but lower earnings amid housing affordability pressures.
Home Depot reported first-quarter fiscal 2026 sales of $41.8 billion, a 4.8% increase from the prior year, driven by spring-related and Pro category demand. Comparable sales rose 0.6%, though adjusted EPS fell to $3.43 from $3.56 a year ago.
The company cited ongoing housing affordability challenges and cautious consumer spending on large projects as headwinds. Digital sales grew over 10% for the fourth consecutive quarter, while fulfillment and store productivity improvements were highlighted.
Home Depot reaffirmed its fiscal 2026 outlook, maintaining guidance for flat to 2% comparable sales growth and EPS growth of flat to up 4%. The Mingledorff’s acquisition was noted as part of its push into Pro and HVAC distribution.