Home Depot (HD) beat Wall Street’s metrics across the board in the second quarter as its customers focused on smaller projects.
Revenue grew by nearly 6% in the quarter to $47.9 billion, above the $47.3 billion analysts forecast, per Bloomberg estimates. Adjusted earnings grew 0.2% to $4.79, more than the $4.73 predicted.
“We saw broad based demand across the business as customers continued to engage in smaller projects,” CFO Richard McPhail said in the release. McPhail and senior executive vice president Ann-Marie Campbell are temporarily leading the company while CEO Ted Decker takes medical leave.
Home Depot stock rose 2% in premarket trading following the results.
Customers visited Home Depot less frequently during the quarter but spent more when they did. Same-store sales increased 1.7%, more than the roughly 1% expected, and US same-store sales jumped 1.3%, higher than the 0.9% expected.
Outdoor categories, including live goods, mulch, patio items, and grills, drove momentum.
The company reiterated its 2026 forecast. It still expects total sales to grow between 2.5% to 4.5% for the year, with same-store sales growth expected to be flat to up 2%.
Brooke DiPalma is a reporter for Yahoo Finance. Follow her on X at @BrookeDiPalma or email her at bdipalma@yahoofinance.com.
