{"success":true,"data":{"pressRelease":{"id":"38744","rtpr_id":"nPn2fZpbna","ticker":"HD","exchange":"NYSE","all_tickers":["HD"],"title":"The Home Depot Announces First Quarter Fiscal 2026 Results; Reaffirms Fiscal 2026 Guidance","author":"PR Newswire","published_at":"2026-05-19T10:00:08.808Z","article_body":"The Home Depot Announces First Quarter Fiscal 2026 Results; Reaffirms Fiscal 2026 Guidance\n\nPR Newswire\n\nATLANTA, May 19, 2026\n\nATLANTA, May 19, 2026 /PRNewswire/ -- The Home Depot(®), the world's largest\nhome improvement retailer, today reported sales of $41.8 billion for the first\nquarter of fiscal 2026, an increase of $1.9 billion, or 4.8% from the first\nquarter of fiscal 2025. Comparable sales for the first quarter of fiscal 2026\nincreased 0.6%, and comparable sales in the U.S. increased 0.4%. For the first\nquarter of fiscal 2026, foreign exchange rates positively impacted total\ncompany comparable sales by approximately 55 basis points.\n\n(https://mma.prnewswire.com/media/118058/THE_HOME_DEPOT_LOGO_v1.html)\n\nNet earnings for the first quarter of fiscal 2026 were $3.3 billion, or $3.30\nper diluted share, compared with net earnings of $3.4 billion, or $3.45 per\ndiluted share, in the same period of fiscal 2025.\n\nAdjusted((1)) diluted earnings per share for the first quarter of fiscal 2026\nwere $3.43, compared with adjusted diluted earnings per share of $3.56 in the\nsame period of fiscal 2025.\n\n\"Our first quarter results were in line with our expectations. The underlying\ndemand in our business was relatively similar to what we saw throughout fiscal\n2025, despite greater consumer uncertainty and housing affordability\npressure,\" said Ted Decker, chair, president and CEO. \"As always, our\nassociates provided excellent customer service during the quarter, and I would\nlike to thank them for their continued hard work and dedication to serving our\ncustomers.\"\n\nFiscal 2026 Guidance\n\nThe company reaffirms its fiscal 2026 guidance:\n\n * Total sales growth of approximately 2.5% to 4.5%\n * Comparable sales growth of approximately flat to 2.0%\n * Approximately 15 new stores\n * Gross margin of approximately 33.1%\n * Operating margin of approximately 12.4% to 12.6%\n * Adjusted((1)) operating margin of approximately 12.8% to 13.0%\n * Effective tax rate of approximately 24.3%\n * Net interest expense of approximately $2.3 billion\n * Diluted earnings-per-share to grow approximately flat to 4.0% from $14.23 in\nfiscal 2025\n * Adjusted((1)) diluted earnings-per-share to grow approximately flat to 4.0%\nfrom $14.69 in fiscal 2025\n * Capital expenditures of approximately 2.5% of total sales (1) The Company reports its financial results in accordance with U.S.\n generally accepted accounting principles (GAAP). As used in this earnings\n release, adjusted operating income, adjusted operating margin, and adjusted\n diluted earnings per share are non-GAAP financial measures. Refer to the end\n of this release for an explanation of these non-GAAP financial measures\n and reconciliations to the most directly comparable GAAP measures.\n\nThe Home Depot will conduct a conference call today at 9 a.m. ET to discuss\ninformation included in this news release and related matters. The conference\ncall will be available in its entirety through a webcast and replay at\nir.homedepot.com/events-and-presentations.\n\nAt the end of the first quarter, the company operated a total of 2,361 retail\nstores and over 1,280 SRS locations across all 50 states, the District of\nColumbia, Puerto Rico, the U.S. Virgin Islands, Guam, 10 Canadian provinces\nand Mexico. The Company employs over 470,000 associates. The Home Depot's\nstock is traded on the New York Stock Exchange (NYSE: HD) and is included in\nthe Dow Jones industrial average and Standard & Poor's 500 index.\n\nCautionary Note Regarding Forward-Looking Statements\nCertain statements contained herein constitute \"forward-looking statements\"\nunder the federal securities laws, including as defined in the Private\nSecurities Litigation Reform Act of 1995. Forward-looking statements are based\non currently available information and our current assumptions, expectations\nand projections about future events, and use words such as \"may,\" \"will,\"\n\"could,\" \"should,\" \"would,\" \"anticipate,\" \"intend,\" \"estimate,\" \"project,\"\n\"plan,\" \"believe,\" \"expect,\" \"target,\" \"prospects,\" \"potential,\" \"commit\" and\n\"forecast,\" or words of similar import or meaning or refer to future time\nperiods. Forward-looking statements may relate to, among other things: our\nbrand and reputation; the demand for our products and services, including as a\nresult of macroeconomic conditions and changing customer preferences and\nexpectations; net sales growth; comparable sales; the effects of competition;\nimplementation of interconnected, store, supply chain, technology, innovation\nand other strategic initiatives, including with respect to real estate;\ninventory, on-shelf availability, and in-stock positions; the state of the\neconomy; the state of the housing and home improvement markets; the state of\nthe credit markets, including mortgages, home equity loans, and consumer and\ntrade credit; the impact of tariffs; trade policy changes or restrictions, or\ninternational trade disputes and efforts and ability to continue to diversify\nour supply chain; issues related to the payment methods we accept; demand for\ncredit offerings including trade credit; management of relationships with our\nassociates, jobseekers, suppliers and service providers; cost and availability\nof labor; costs of fuel and other energy sources; events that could disrupt\nour business, supply chain, technology infrastructure, or demand for our\nproducts and services, such as tariffs, trade policy changes or restrictions\nor international trade disputes, natural disasters, climate change, public\nhealth issues, cybersecurity events, and labor disputes; geopolitical tensions\nor conflicts, military conflicts, or acts of war; our ability to maintain a\nsafe and secure store environment; our ability to address expectations\nregarding sustainability and human capital management matters and meet related\ngoals; continuation or suspension of share repurchases; net earnings and\nmargin performance; earnings per share; future dividends; capital allocation\nand expenditures; productivity; liquidity; return on invested capital; expense\nand debt leverage; changes in interest rates; changes in foreign currency\nexchange rates; commodity or other price inflation and deflation; our ability\nto issue debt on terms and at rates acceptable to us; the impact and expected\noutcome of investigations, inquiries, claims, and litigation; the challenges\nof operating in international markets; the adequacy of insurance coverage; the\neffect of accounting charges; the effect of adopting certain accounting\nstandards; the impact of legal and regulatory changes, including executive\norders and other administrative or legislative actions, such as changes to tax\nlaws and regulations; store openings and closures; financial outlook,\nincluding guidance for fiscal 2026; and the impact of acquired companies,\nincluding SRS and GMS, on our organization and the ability to recognize the\nanticipated benefits of completed or pending acquisitions.\n\nThese statements are not guarantees of future performance and are subject to\nfuture events, risks and uncertainties – many of which are beyond our\ncontrol, dependent on the actions of third parties, or currently unknown to us\n– as well as potentially inaccurate assumptions that could cause actual\nresults to differ materially from our historical experience and our\nexpectations and projections. These risks and uncertainties include, but are\nnot limited to, those described in Part I, Item 1A. \"Risk Factors,\" and\nelsewhere in our Annual Report on Form 10-K for our fiscal year ended February\n1, 2026 and also as described from time to time in reports subsequently filed\nwith the Securities and Exchange Commission. There also may be other factors\nthat we cannot anticipate or that are not described herein, generally because\nwe do not currently perceive them to be material. Such factors could cause\nresults to differ materially from our expectations. Forward-looking statements\nspeak only as of the date they are made, and we do not undertake to update\nthese statements other than as required by law. You are advised, however, to\nreview any further disclosures we make on related subjects in our filings with\nthe Securities and Exchange Commission and in our other public statements.\n\nNon-GAAP Financial Measures\nTo provide additional transparency, we supplement our disclosure with certain\nnon-GAAP financial measures. When used in conjunction with our GAAP financial\nmeasures, we believe these supplemental non-GAAP financial measures will help\nmanagement and investors to better understand and analyze our performance.\nHowever, this supplemental information should not be considered in isolation\nor as a substitute for the related GAAP measures. Refer to the end of this\nrelease for an explanation and definitions of these non-GAAP financial\nmeasures and reconciliations to the most directly comparable GAAP measures.\n THE HOME DEPOT, INC.\n CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS\n\n(Unaudited)\n\n Three Months Ended\n in millions, except per share data May 3, May 4, % Change\n 2026 2025\n Net sales $ 41,765 $ 39,856 4.8 %\n Cost of sales 27,984 26,397 6.0\n  Gross profit 13,781 13,459 2.4\n Operating expenses:\n Selling, general and administrative 7,959 7,530 5.7\n Depreciation and amortization 841 796 5.7\n  Total operating expenses 8,800 8,326 5.7\n Operating income 4,981 5,133 (3.0)\n Interest and other (income) expense:\n Interest income and other, net (7) (24) (70.8)\n Interest expense 611 615 (0.7)\n  Interest and other, net 604 591 2.2\n Earnings before provision for income taxes 4,377 4,542 (3.6)\n Provision for income taxes 1,088 1,109 (1.9)\n Net earnings $ 3,289 $ 3,433 (4.2) %\n\n Basic weighted average common shares 994 992 0.2 %\n Basic earnings per share $ 3.31 $ 3.46 (4.3)\n\n Diluted weighted average common shares 996 994 0.2 %\n Diluted earnings per share $ 3.30 $ 3.45 (4.3)\n\n Three Months Ended\n Selected sales data: May 3, May 4, % Change\n 2026 2025\n Comparable sales (% change) 0.6 % (0.3) % N/A\n Comparable customer transactions (% change) ((1)) (1.3) % (0.5) % N/A\n Comparable average ticket (% change) ((1)) 2.2 % — % N/A\n Customer transactions (in millions) ((1)) 391.1 394.8 (0.9) %\n Average ticket ((1)) $ 92.76 $ 90.71 2.3\n\n (1) Customer transactions and average ticket measures do not include results from\n HD Supply or SRS.\n\n \n THE HOME DEPOT, INC.\n\nCONDENSED CONSOLIDATED BALANCE SHEETS\n\n(Unaudited)\n\n in millions May 3, May 4, February 1,\n 2026 2025 2026\n Assets\n Current assets:\n Cash and cash equivalents $ 1,601 $ 1,369 $ 1,389\n Receivables, net 6,624 5,886 5,597\n Merchandise inventories 27,280 25,763 25,817\n Other current assets 1,667 1,511 1,588\n Total current assets 37,172 34,529 34,391\n Net property and equipment 27,930 26,780 28,021\n Operating lease right-of-use assets 9,275 8,699 9,204\n Goodwill 22,479 19,568 22,344\n Intangible assets, net 10,244 8,888 10,329\n Other assets 804 693 806\n Total assets $ 107,904 $ 99,157 $ 105,095\n\n Liabilities and Stockholders' Equity\n Current liabilities:\n Short-term debt $ 3,503 $ 38 $ 4,464\n Accounts payable 14,373 14,696 11,491\n Accrued salaries and related expenses 2,237 2,180 2,529\n Current installments of long-term debt 5,178 4,885 4,967\n Current operating lease liabilities 1,484 1,311 1,418\n Other current liabilities 8,805 8,479 7,555\n Total current liabilities 35,580 31,589 32,424\n Long-term debt, excluding current installments 44,828 47,343 46,341\n Long-term operating lease liabilities 8,164 7,714 8,160\n Other long-term liabilities 5,458 4,556 5,357\n Total liabilities 94,030 91,202 92,282\n Total stockholders' equity 13,874 7,955 12,813\n Total liabilities and stockholders' equity $ 107,904 $ 99,157 $ 105,095\n\n \n THE HOME DEPOT, INC.\n\nCONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS\n\n(Unaudited)\n\n Three Months Ended\n in millions May 3, May 4,\n 2026 2025\n Cash Flows from Operating Activities:\n Net earnings $ 3,289 $ 3,433\n Reconciliation of net earnings to net cash provided by operating activities:\n Depreciation and amortization, excluding amortization of intangible assets 910 855\n Intangible asset amortization 171 139\n Stock-based compensation expense 178 170\n Changes in working capital 1,337 (244)\n Changes in deferred income taxes 65 (3)\n Other operating activities 82 (25)\n  Net cash provided by operating activities 6,032 4,325\n\n Cash Flows from Investing Activities:\n Capital expenditures (844) (806)\n Payments for businesses acquired, net (286) (156)\n Other investing activities 21 31\n Net cash used in investing activities (1,109) (931)\n\n Cash Flows from Financing Activities:\n Repayments of short-term debt, net (961) (278)\n Proceeds from long-term debt, net of discounts 69 29\n Repayments of long-term debt (1,425) (1,106)\n Proceeds from sales of common stock 33 11\n Cash dividends (2,320) (2,286)\n Other financing activities (109) (126)\n Net cash used in financing activities (4,713) (3,756)\n Change in cash and cash equivalents 210 (362)\n Effect of exchange rate changes on cash and cash equivalents 2 72\n Cash and cash equivalents at beginning of period 1,389 1,659\n Cash and cash equivalents at end of period $ 1,601 $ 1,369\n\nNON-GAAP FINANCIAL MEASURES\n\nAdjusted operating income, adjusted operating margin, and adjusted diluted\nearnings per share are presented as supplemental financial measures in the\nevaluation of our business that are not required by or presented in accordance\nwith GAAP. The Company excludes the impact of amortization expense from\nacquired intangible assets from adjusted operating income and adjusted\noperating margin, and the impact of amortization expense from acquired\nintangible assets, including the related tax effects, from adjusted diluted\nearnings per share. We do not adjust for the revenue that is generated in part\nfrom the use of our acquired intangible assets. Amortization expense, unlike\nthe related revenue, is not affected by operations in any particular period\nunless an intangible asset becomes impaired, or the useful life of an\nintangible asset is revised.\n\nWhen used in conjunction with our GAAP results, we believe these non-GAAP\nmeasures provide investors with meaningful supplemental measures of our\nperformance period to period, make it easier for investors to compare our\nunderlying business performance to peers, and align to how management analyzes\ntrends and evaluates performance internally. The Company provides non-GAAP\nfinancial information on this basis to facilitate comparability when we report\nearnings results. These non-GAAP measures should not be considered in\nisolation or as a substitute for their comparable GAAP financial measures.\nInvestors should rely primarily on our GAAP results and use non-GAAP financial\nmeasures only supplementally in making investment decisions. Our calculation\nof non-GAAP measures may not be comparable to similarly titled measures\nreported by other companies and other companies may not define these non-GAAP\nfinancial measures in the same way, which may limit their usefulness as\ncomparative measures.\n RECONCILIATION OF ADJUSTED OPERATING INCOME AND ADJUSTED OPERATING MARGIN\n\n Three Months Ended\n USD in millions May 3, May 4, % Change\n 2026 2025\n Operating income (GAAP) $ 4,981 $ 5,133 (3.0) %\n Operating margin ((1)) 11.9 % 12.9 %\n Acquired intangible asset amortization ((2)) 171 139\n Adjusted operating income (Non-GAAP) $ 5,152 $ 5,272 (2.3) %\n Adjusted operating margin (Non-GAAP) ((3)) 12.3 % 13.2 %\n\n (1) Operating margin is calculated as operating income divided by total net sales.\n (2) Amounts include acquired intangible asset amortization of $119 million and $87\n million during the three months ended May 3, 2026 and May 4, 2025,\n respectively, related to SRS Distribution, Inc., and its subsidiaries.\n (3) Adjusted operating margin is calculated as adjusted operating income divided\n by total net sales.\n\nOur adjusted operating margin guidance for fiscal 2026 excludes an expected\napproximately 40 basis point impact from acquired intangible asset\namortization.\n\n \n RECONCILIATION OF ADJUSTED DILUTED EARNINGS PER SHARE\n\n Three Months Ended\n per share amounts May 3, May 4, % Change\n 2026 2025\n Diluted earnings per share (GAAP) $ 3.30 $ 3.45 (4.3) %\n Impact of acquired intangible asset amortization 0.17 0.14\n Income tax impact of non-GAAP adjustment ((1)) (0.04) (0.03)\n Adjusted diluted earnings per share (Non-GAAP) $ 3.43 $ 3.56 (3.7) %\n\n (1) Calculated as the per share impact of acquired intangible asset amortization\n multiplied by the Company's effective tax rate for the period.\n\nOur adjusted diluted earnings per share guidance for fiscal 2026 excludes an\nexpected after-tax impact of approximately $0.50 from acquired intangible\nasset amortization.\n\nView original content to download\nmultimedia:https://www.prnewswire.com/news-releases/the-home-depot-announces-first-quarter-fiscal-2026-results-reaffirms-fiscal-2026-guidance-302775361.html\n(https://www.prnewswire.com/news-releases/the-home-depot-announces-first-quarter-fiscal-2026-results-reaffirms-fiscal-2026-guidance-302775361.html)\n\nSOURCE The Home Depot\n\n\n\nFinancial Community, Isabel Janci, Vice President of Investor Relations and Treasurer, 770-384-2666, isabel_janci@homedepot.com; News Media, Sara Gorman, Senior Director of Corporate Communications, 770-384-2852, sara_gorman@homedepot.com\n\nPhoto: \nhttps://mma.prnewswire.com/media/118058/THE_HOME_DEPOT_LOGO_v1.jpg\n\nCopyright (c) 2026 PR Newswire Association,LLC. All Rights Reserved.","article_body_html":"","raw_payload":{"data":{"id":"nPn2fZpbna","title":"The Home Depot Announces First Quarter Fiscal 2026 Results; Reaffirms Fiscal 2026 Guidance","author":"PR Newswire","ticker":"HD","created":"2026-05-19T10:00:08.808Z","tickers":["HD"],"exchange":"NYSE","article_body":"The Home Depot Announces First Quarter Fiscal 2026 Results; Reaffirms Fiscal 2026 Guidance\n\nPR Newswire\n\nATLANTA, May 19, 2026\n\nATLANTA, May 19, 2026 /PRNewswire/ -- The Home Depot(®), the world's largest\nhome improvement retailer, today reported sales of $41.8 billion for the first\nquarter of fiscal 2026, an increase of $1.9 billion, or 4.8% from the first\nquarter of fiscal 2025. Comparable sales for the first quarter of fiscal 2026\nincreased 0.6%, and comparable sales in the U.S. increased 0.4%. For the first\nquarter of fiscal 2026, foreign exchange rates positively impacted total\ncompany comparable sales by approximately 55 basis points.\n\n(https://mma.prnewswire.com/media/118058/THE_HOME_DEPOT_LOGO_v1.html)\n\nNet earnings for the first quarter of fiscal 2026 were $3.3 billion, or $3.30\nper diluted share, compared with net earnings of $3.4 billion, or $3.45 per\ndiluted share, in the same period of fiscal 2025.\n\nAdjusted((1)) diluted earnings per share for the first quarter of fiscal 2026\nwere $3.43, compared with adjusted diluted earnings per share of $3.56 in the\nsame period of fiscal 2025.\n\n\"Our first quarter results were in line with our expectations. The underlying\ndemand in our business was relatively similar to what we saw throughout fiscal\n2025, despite greater consumer uncertainty and housing affordability\npressure,\" said Ted Decker, chair, president and CEO. \"As always, our\nassociates provided excellent customer service during the quarter, and I would\nlike to thank them for their continued hard work and dedication to serving our\ncustomers.\"\n\nFiscal 2026 Guidance\n\nThe company reaffirms its fiscal 2026 guidance:\n\n * Total sales growth of approximately 2.5% to 4.5%\n * Comparable sales growth of approximately flat to 2.0%\n * Approximately 15 new stores\n * Gross margin of approximately 33.1%\n * Operating margin of approximately 12.4% to 12.6%\n * Adjusted((1)) operating margin of approximately 12.8% to 13.0%\n * Effective tax rate of approximately 24.3%\n * Net interest expense of approximately $2.3 billion\n * Diluted earnings-per-share to grow approximately flat to 4.0% from $14.23 in\nfiscal 2025\n * Adjusted((1)) diluted earnings-per-share to grow approximately flat to 4.0%\nfrom $14.69 in fiscal 2025\n * Capital expenditures of approximately 2.5% of total sales (1) The Company reports its financial results in accordance with U.S.\n generally accepted accounting principles (GAAP). As used in this earnings\n release, adjusted operating income, adjusted operating margin, and adjusted\n diluted earnings per share are non-GAAP financial measures. Refer to the end\n of this release for an explanation of these non-GAAP financial measures\n and reconciliations to the most directly comparable GAAP measures.\n\nThe Home Depot will conduct a conference call today at 9 a.m. ET to discuss\ninformation included in this news release and related matters. The conference\ncall will be available in its entirety through a webcast and replay at\nir.homedepot.com/events-and-presentations.\n\nAt the end of the first quarter, the company operated a total of 2,361 retail\nstores and over 1,280 SRS locations across all 50 states, the District of\nColumbia, Puerto Rico, the U.S. Virgin Islands, Guam, 10 Canadian provinces\nand Mexico. The Company employs over 470,000 associates. The Home Depot's\nstock is traded on the New York Stock Exchange (NYSE: HD) and is included in\nthe Dow Jones industrial average and Standard & Poor's 500 index.\n\nCautionary Note Regarding Forward-Looking Statements\nCertain statements contained herein constitute \"forward-looking statements\"\nunder the federal securities laws, including as defined in the Private\nSecurities Litigation Reform Act of 1995. Forward-looking statements are based\non currently available information and our current assumptions, expectations\nand projections about future events, and use words such as \"may,\" \"will,\"\n\"could,\" \"should,\" \"would,\" \"anticipate,\" \"intend,\" \"estimate,\" \"project,\"\n\"plan,\" \"believe,\" \"expect,\" \"target,\" \"prospects,\" \"potential,\" \"commit\" and\n\"forecast,\" or words of similar import or meaning or refer to future time\nperiods. Forward-looking statements may relate to, among other things: our\nbrand and reputation; the demand for our products and services, including as a\nresult of macroeconomic conditions and changing customer preferences and\nexpectations; net sales growth; comparable sales; the effects of competition;\nimplementation of interconnected, store, supply chain, technology, innovation\nand other strategic initiatives, including with respect to real estate;\ninventory, on-shelf availability, and in-stock positions; the state of the\neconomy; the state of the housing and home improvement markets; the state of\nthe credit markets, including mortgages, home equity loans, and consumer and\ntrade credit; the impact of tariffs; trade policy changes or restrictions, or\ninternational trade disputes and efforts and ability to continue to diversify\nour supply chain; issues related to the payment methods we accept; demand for\ncredit offerings including trade credit; management of relationships with our\nassociates, jobseekers, suppliers and service providers; cost and availability\nof labor; costs of fuel and other energy sources; events that could disrupt\nour business, supply chain, technology infrastructure, or demand for our\nproducts and services, such as tariffs, trade policy changes or restrictions\nor international trade disputes, natural disasters, climate change, public\nhealth issues, cybersecurity events, and labor disputes; geopolitical tensions\nor conflicts, military conflicts, or acts of war; our ability to maintain a\nsafe and secure store environment; our ability to address expectations\nregarding sustainability and human capital management matters and meet related\ngoals; continuation or suspension of share repurchases; net earnings and\nmargin performance; earnings per share; future dividends; capital allocation\nand expenditures; productivity; liquidity; return on invested capital; expense\nand debt leverage; changes in interest rates; changes in foreign currency\nexchange rates; commodity or other price inflation and deflation; our ability\nto issue debt on terms and at rates acceptable to us; the impact and expected\noutcome of investigations, inquiries, claims, and litigation; the challenges\nof operating in international markets; the adequacy of insurance coverage; the\neffect of accounting charges; the effect of adopting certain accounting\nstandards; the impact of legal and regulatory changes, including executive\norders and other administrative or legislative actions, such as changes to tax\nlaws and regulations; store openings and closures; financial outlook,\nincluding guidance for fiscal 2026; and the impact of acquired companies,\nincluding SRS and GMS, on our organization and the ability to recognize the\nanticipated benefits of completed or pending acquisitions.\n\nThese statements are not guarantees of future performance and are subject to\nfuture events, risks and uncertainties – many of which are beyond our\ncontrol, dependent on the actions of third parties, or currently unknown to us\n– as well as potentially inaccurate assumptions that could cause actual\nresults to differ materially from our historical experience and our\nexpectations and projections. These risks and uncertainties include, but are\nnot limited to, those described in Part I, Item 1A. \"Risk Factors,\" and\nelsewhere in our Annual Report on Form 10-K for our fiscal year ended February\n1, 2026 and also as described from time to time in reports subsequently filed\nwith the Securities and Exchange Commission. There also may be other factors\nthat we cannot anticipate or that are not described herein, generally because\nwe do not currently perceive them to be material. Such factors could cause\nresults to differ materially from our expectations. Forward-looking statements\nspeak only as of the date they are made, and we do not undertake to update\nthese statements other than as required by law. You are advised, however, to\nreview any further disclosures we make on related subjects in our filings with\nthe Securities and Exchange Commission and in our other public statements.\n\nNon-GAAP Financial Measures\nTo provide additional transparency, we supplement our disclosure with certain\nnon-GAAP financial measures. When used in conjunction with our GAAP financial\nmeasures, we believe these supplemental non-GAAP financial measures will help\nmanagement and investors to better understand and analyze our performance.\nHowever, this supplemental information should not be considered in isolation\nor as a substitute for the related GAAP measures. Refer to the end of this\nrelease for an explanation and definitions of these non-GAAP financial\nmeasures and reconciliations to the most directly comparable GAAP measures.\n THE HOME DEPOT, INC.\n CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS\n\n(Unaudited)\n\n Three Months Ended\n in millions, except per share data May 3, May 4, % Change\n 2026 2025\n Net sales $ 41,765 $ 39,856 4.8 %\n Cost of sales 27,984 26,397 6.0\n  Gross profit 13,781 13,459 2.4\n Operating expenses:\n Selling, general and administrative 7,959 7,530 5.7\n Depreciation and amortization 841 796 5.7\n  Total operating expenses 8,800 8,326 5.7\n Operating income 4,981 5,133 (3.0)\n Interest and other (income) expense:\n Interest income and other, net (7) (24) (70.8)\n Interest expense 611 615 (0.7)\n  Interest and other, net 604 591 2.2\n Earnings before provision for income taxes 4,377 4,542 (3.6)\n Provision for income taxes 1,088 1,109 (1.9)\n Net earnings $ 3,289 $ 3,433 (4.2) %\n\n Basic weighted average common shares 994 992 0.2 %\n Basic earnings per share $ 3.31 $ 3.46 (4.3)\n\n Diluted weighted average common shares 996 994 0.2 %\n Diluted earnings per share $ 3.30 $ 3.45 (4.3)\n\n Three Months Ended\n Selected sales data: May 3, May 4, % Change\n 2026 2025\n Comparable sales (% change) 0.6 % (0.3) % N/A\n Comparable customer transactions (% change) ((1)) (1.3) % (0.5) % N/A\n Comparable average ticket (% change) ((1)) 2.2 % — % N/A\n Customer transactions (in millions) ((1)) 391.1 394.8 (0.9) %\n Average ticket ((1)) $ 92.76 $ 90.71 2.3\n\n (1) Customer transactions and average ticket measures do not include results from\n HD Supply or SRS.\n\n \n THE HOME DEPOT, INC.\n\nCONDENSED CONSOLIDATED BALANCE SHEETS\n\n(Unaudited)\n\n in millions May 3, May 4, February 1,\n 2026 2025 2026\n Assets\n Current assets:\n Cash and cash equivalents $ 1,601 $ 1,369 $ 1,389\n Receivables, net 6,624 5,886 5,597\n Merchandise inventories 27,280 25,763 25,817\n Other current assets 1,667 1,511 1,588\n Total current assets 37,172 34,529 34,391\n Net property and equipment 27,930 26,780 28,021\n Operating lease right-of-use assets 9,275 8,699 9,204\n Goodwill 22,479 19,568 22,344\n Intangible assets, net 10,244 8,888 10,329\n Other assets 804 693 806\n Total assets $ 107,904 $ 99,157 $ 105,095\n\n Liabilities and Stockholders' Equity\n Current liabilities:\n Short-term debt $ 3,503 $ 38 $ 4,464\n Accounts payable 14,373 14,696 11,491\n Accrued salaries and related expenses 2,237 2,180 2,529\n Current installments of long-term debt 5,178 4,885 4,967\n Current operating lease liabilities 1,484 1,311 1,418\n Other current liabilities 8,805 8,479 7,555\n Total current liabilities 35,580 31,589 32,424\n Long-term debt, excluding current installments 44,828 47,343 46,341\n Long-term operating lease liabilities 8,164 7,714 8,160\n Other long-term liabilities 5,458 4,556 5,357\n Total liabilities 94,030 91,202 92,282\n Total stockholders' equity 13,874 7,955 12,813\n Total liabilities and stockholders' equity $ 107,904 $ 99,157 $ 105,095\n\n \n THE HOME DEPOT, INC.\n\nCONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS\n\n(Unaudited)\n\n Three Months Ended\n in millions May 3, May 4,\n 2026 2025\n Cash Flows from Operating Activities:\n Net earnings $ 3,289 $ 3,433\n Reconciliation of net earnings to net cash provided by operating activities:\n Depreciation and amortization, excluding amortization of intangible assets 910 855\n Intangible asset amortization 171 139\n Stock-based compensation expense 178 170\n Changes in working capital 1,337 (244)\n Changes in deferred income taxes 65 (3)\n Other operating activities 82 (25)\n  Net cash provided by operating activities 6,032 4,325\n\n Cash Flows from Investing Activities:\n Capital expenditures (844) (806)\n Payments for businesses acquired, net (286) (156)\n Other investing activities 21 31\n Net cash used in investing activities (1,109) (931)\n\n Cash Flows from Financing Activities:\n Repayments of short-term debt, net (961) (278)\n Proceeds from long-term debt, net of discounts 69 29\n Repayments of long-term debt (1,425) (1,106)\n Proceeds from sales of common stock 33 11\n Cash dividends (2,320) (2,286)\n Other financing activities (109) (126)\n Net cash used in financing activities (4,713) (3,756)\n Change in cash and cash equivalents 210 (362)\n Effect of exchange rate changes on cash and cash equivalents 2 72\n Cash and cash equivalents at beginning of period 1,389 1,659\n Cash and cash equivalents at end of period $ 1,601 $ 1,369\n\nNON-GAAP FINANCIAL MEASURES\n\nAdjusted operating income, adjusted operating margin, and adjusted diluted\nearnings per share are presented as supplemental financial measures in the\nevaluation of our business that are not required by or presented in accordance\nwith GAAP. The Company excludes the impact of amortization expense from\nacquired intangible assets from adjusted operating income and adjusted\noperating margin, and the impact of amortization expense from acquired\nintangible assets, including the related tax effects, from adjusted diluted\nearnings per share. We do not adjust for the revenue that is generated in part\nfrom the use of our acquired intangible assets. Amortization expense, unlike\nthe related revenue, is not affected by operations in any particular period\nunless an intangible asset becomes impaired, or the useful life of an\nintangible asset is revised.\n\nWhen used in conjunction with our GAAP results, we believe these non-GAAP\nmeasures provide investors with meaningful supplemental measures of our\nperformance period to period, make it easier for investors to compare our\nunderlying business performance to peers, and align to how management analyzes\ntrends and evaluates performance internally. The Company provides non-GAAP\nfinancial information on this basis to facilitate comparability when we report\nearnings results. These non-GAAP measures should not be considered in\nisolation or as a substitute for their comparable GAAP financial measures.\nInvestors should rely primarily on our GAAP results and use non-GAAP financial\nmeasures only supplementally in making investment decisions. Our calculation\nof non-GAAP measures may not be comparable to similarly titled measures\nreported by other companies and other companies may not define these non-GAAP\nfinancial measures in the same way, which may limit their usefulness as\ncomparative measures.\n RECONCILIATION OF ADJUSTED OPERATING INCOME AND ADJUSTED OPERATING MARGIN\n\n Three Months Ended\n USD in millions May 3, May 4, % Change\n 2026 2025\n Operating income (GAAP) $ 4,981 $ 5,133 (3.0) %\n Operating margin ((1)) 11.9 % 12.9 %\n Acquired intangible asset amortization ((2)) 171 139\n Adjusted operating income (Non-GAAP) $ 5,152 $ 5,272 (2.3) %\n Adjusted operating margin (Non-GAAP) ((3)) 12.3 % 13.2 %\n\n (1) Operating margin is calculated as operating income divided by total net sales.\n (2) Amounts include acquired intangible asset amortization of $119 million and $87\n million during the three months ended May 3, 2026 and May 4, 2025,\n respectively, related to SRS Distribution, Inc., and its subsidiaries.\n (3) Adjusted operating margin is calculated as adjusted operating income divided\n by total net sales.\n\nOur adjusted operating margin guidance for fiscal 2026 excludes an expected\napproximately 40 basis point impact from acquired intangible asset\namortization.\n\n \n RECONCILIATION OF ADJUSTED DILUTED EARNINGS PER SHARE\n\n Three Months Ended\n per share amounts May 3, May 4, % Change\n 2026 2025\n Diluted earnings per share (GAAP) $ 3.30 $ 3.45 (4.3) %\n Impact of acquired intangible asset amortization 0.17 0.14\n Income tax impact of non-GAAP adjustment ((1)) (0.04) (0.03)\n Adjusted diluted earnings per share (Non-GAAP) $ 3.43 $ 3.56 (3.7) %\n\n (1) Calculated as the per share impact of acquired intangible asset amortization\n multiplied by the Company's effective tax rate for the period.\n\nOur adjusted diluted earnings per share guidance for fiscal 2026 excludes an\nexpected after-tax impact of approximately $0.50 from acquired intangible\nasset amortization.\n\nView original content to download\nmultimedia:https://www.prnewswire.com/news-releases/the-home-depot-announces-first-quarter-fiscal-2026-results-reaffirms-fiscal-2026-guidance-302775361.html\n(https://www.prnewswire.com/news-releases/the-home-depot-announces-first-quarter-fiscal-2026-results-reaffirms-fiscal-2026-guidance-302775361.html)\n\nSOURCE The Home Depot\n\n\n\nFinancial Community, Isabel Janci, Vice President of Investor Relations and Treasurer, 770-384-2666, isabel_janci@homedepot.com; News Media, Sara Gorman, Senior Director of Corporate Communications, 770-384-2852, sara_gorman@homedepot.com\n\nPhoto: \nhttps://mma.prnewswire.com/media/118058/THE_HOME_DEPOT_LOGO_v1.jpg\n\nCopyright (c) 2026 PR Newswire Association,LLC. All Rights Reserved."},"type":"article","timestamp":"2026-05-19T10:00:08.829753288Z","server_sent_at_ms":1779184808829},"received_at":"2026-05-19T10:00:08.985Z","source_url":"https://www.prnewswire.com/news-releases/the-home-depot-announces-first-quarter-fiscal-2026-results-reaffirms-fiscal-2026-guidance-302775361.html"},"analysis":{"id":"28187","press_release_id":"38744","analysis_json":{"industry":{"label":"Home Improvement Retail","sector":"Consumer Discretionary"},"redFlags":[],"eventType":"earnings","narrative":"The Home Depot reported Q1 fiscal 2026 sales of $41.8 billion, up 4.8% year-over-year, driven by a 0.6% increase in comparable sales.\n\nDiluted EPS came in at $3.30, down 4.3% from $3.45 a year earlier, while adjusted diluted EPS was $3.43, down 3.7% from $3.56.\n\nThe company reaffirmed its full-year fiscal 2026 guidance, projecting total sales growth of 2.5% to 4.5% and adjusted EPS growth of flat to 4.0%.","sentiment":"neutral","agentHooks":{"shouldPost":false,"suggestedAngle":"HD reports in-line Q1 results with modest comp growth; guidance reaffirmed amid housing headwinds."},"keyFigures":{"eps":3.3,"revenue":41765000000,"guidance":"FY26 total sales growth 2.5%-4.5%; comp sales flat to 2.0%; adj. 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The underlying demand in our business was relatively similar to what we saw throughout fiscal 2025, despite greater consumer uncertainty and housing affordability pressure","namedEntities":{"people":[{"name":"Ted Decker","role":"Chair, President and CEO"},{"name":"Isabel Janci","role":"Vice President of Investor Relations and Treasurer"},{"name":"Sara Gorman","role":"Senior Director of Corporate Communications"}],"products":[],"companies":[{"name":"The Home Depot","ticker":"HD"}],"dollarAmounts":[{"amount":"$41.8 billion","context":"Q1 fiscal 2026 sales"},{"amount":"$1.9 billion","context":"increase in sales from prior year"},{"amount":"$3.3 billion","context":"Q1 fiscal 2026 net earnings"},{"amount":"$3.30","context":"Q1 fiscal 2026 diluted EPS"},{"amount":"$3.45","context":"Q1 fiscal 2025 diluted EPS"},{"amount":"$3.43","context":"Q1 fiscal 2026 adjusted diluted EPS"},{"amount":"$3.56","context":"Q1 fiscal 2025 adjusted diluted EPS"},{"amount":"$14.23","context":"FY2025 diluted EPS base for guidance"},{"amount":"$14.69","context":"FY2025 adjusted diluted EPS base for guidance"},{"amount":"$2.3 billion","context":"FY2026 net interest expense guidance"}]},"materialImpact":{"score":2,"reasoning":"Q1 results were in line with expectations (no significant surprise). Guidance was reaffirmed, not raised or cut. While HD is a mega-cap, the lack of directional surprise or strategic change limits material impact."},"tickerRelevance":{"others":[],"primary":"HD"},"globalImportance":75,"audienceRelevance":85,"eventTypeSecondary":["guidance_update"],"importanceComponents":{"tickerTier":"mega-cap","eventGravity":"routine-earnings","sectorWeight":"high","householdBrandBoost":true,"retailFavoriteBoost":false}},"event_type":"earnings","event_type_secondary":["guidance_update"],"sentiment":"neutral","material_impact_score":2,"narrative":"The Home Depot reported Q1 fiscal 2026 sales of $41.8 billion, up 4.8% year-over-year, driven by a 0.6% increase in comparable sales.\n\nDiluted EPS came in at $3.30, down 4.3% from $3.45 a year earlier, while adjusted diluted EPS was $3.43, down 3.7% from $3.56.\n\nThe company reaffirmed its full-year fiscal 2026 guidance, projecting total sales growth of 2.5% to 4.5% and adjusted EPS growth of flat to 4.0%.","key_figures":{"eps":3.3,"revenue":41765000000,"guidance":"FY26 total sales growth 2.5%-4.5%; comp sales flat to 2.0%; adj. 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