Home Depot posts strong quarterly sales as small DIY projects drive growth, launches nationwide three-hour delivery

Home Depot reported a 5.7% year-over-year revenue increase to $47.86 billion for its second quarter, beating Wall Street expectations of $47.24 billion. Comparable store sales rose 1.7% globally and 1.3% in the U.S., driven by demand for smaller home-improvement projects despite a prolonged U.S. housing market slump. The company’s net earnings climbed to $4.77 billion, or $4.79 per share, up from $4.55 billion and $4.58 per share a year earlier. Excluding one-time items, earnings reached $4.92 per share, surpassing the $4.73 per share forecast. Average customer spending per transaction rose to $92.50 from $90.01, though the number of transactions dipped 1%. Analysts noted a 1.5% increase in smaller projects year-over-year, contrasting with a 2.1% decline in larger, higher-cost projects, which remain constrained by elevated borrowing costs and weak housing activity. Existing-home sales fell 1.7% in July, with the U.S. median sales price hitting $434,100, a 2% increase from the prior year. Home Depot maintained its fiscal 2026 guidance, forecasting sales growth of 2.5% to 4.5% and comparable sales to be flat to up 2%. The retailer also launched a nationwide express delivery service, promising orders within three hours or less for a flat fee, available without subscription or membership. Home Depot’s stock rose 2% in pre-market trading.