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Home Depot says core shopper is resilient in the face of higher gas prices, sales rise 5%
The retailer said pro customer demand and spring spending helped offset a weak housing market and higher consumer caution.
- On Tuesday, Home Depot reported fiscal first-quarter adjusted earnings of $3.43 per share and $41.77 billion in revenue, beating Wall Street estimates and prompting the retailer to reaffirm full-year fiscal 2026 guidance.
- Finance Chief Richard McPhail told CNBC the core homeowner shopper remains financially protected and engaged, yet continues to defer larger projects—a pattern consistent with trends observed over recent years.
- Professional shoppers account for about 50% of Home Depot's revenue, with the company targeting a $700 billion pro market. Strategic acquisitions—SRS Distribution in 2024 and GMS last year—drive this expansion.
- Economic uncertainty, lower housing turnover, and spiked mortgage rates following the Middle East conflict pressure the sector, forcing some shoppers to delay pricier projects despite homeowner engagement.
- Expanding into an addressable market worth around $100 billion, SRS completed its acquisition of Mingledorff's last week to strengthen the company's HVAC capabilities serving residential and commercial customers.
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DIY Homeowners Spur Springtime Sales at Home Depot
Home Depot on May 19 reported first-quarter sales of $41.8 billion, a 4.8 percent year-over-year increase, bolstered by its revamped product-delivery service and stronger demand for seasonal home-improvement products. Home Depot’s adjusted earnings per share for the first quarter of fiscal 2026, which ended May 3, were $3.43 versus year-earlier earnings per share of $3.56. Net earnings of $3.29 billion dipped 4.2 percent from the first quarter o…
·New York, United States
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Home Depot says its customers are healthy, but here’s where they are holding back
Shares of Home Depot crept higher on Tuesday after the home- improvement giant kept its full-year outlook intact — a relief for investors worried that higher gasoline prices due to the Iran war would further crimp consumer spending.
·United States
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Coverage Details
Total News Sources43
Leaning Left7Leaning Right6Center14Last UpdatedBias Distribution52% Center
Bias Distribution
- 52% of the sources are Center
52% Center
L 26%
C 52%
R 22%
Factuality
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