Earnings Preview: What To Expect From The Home Depot’s Report

The Home Depot, Inc. (HD), headquartered in Atlanta, Georgia, is the world's largest home improvement retailer, operating more than 2,300 stores across the U.S., Canada, and Mexico. It sells building materials, tools, appliances, and home improvement products while offering installation services and an extensive e-commerce platform for DIY and professional customers. The company has a market capitalization of approximately $330.6 billion.

HD is set to report its Q2 earnings on Tuesday, August 18, 2026, before the market opens. Ahead of the release, analysts expect the company to report diluted EPS of $4.71, up marginally from $4.68 in the year-ago quarter. HD has surpassed Wall Street's EPS estimates in two of the past four quarters while missing expectations in the other two.

For fiscal 2027, analysts expect the company to report EPS of $15.01, up 2.2% from $14.69 in fiscal 2026. Moreover, its EPS is expected to increase another 8% to $16.21 in fiscal 2028.

HD stock has plunged 10.7% over the past 52 weeks, significantly underperforming both the S&P 500 Index ($SPX), which has returned 18.9%, and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY), which has gained 1.1% over the same period.

On July 20, 2026, The Home Depot shares fell more than 1% as rising crude oil prices pushed the 10-year Treasury yield to 4.60%, fueling inflation concerns and weakening the outlook for housing demand. The broader selloff also weighed on homebuilders and housing-related stocks amid escalating Middle East tensions and higher borrowing costs.

Analysts remain somewhat bullish on HD, with the stock earning a consensus "Moderate Buy" rating. Among the 34 analysts covering the stock, 20 recommend a "Strong Buy," one rates it a "Moderate Buy," 12 recommend a "Hold," and one suggests a "Strong Sell." The average price target of $369.34 implies a potential upside of 11.4% from the current share price.