Home Depot reported second-quarter results that exceeded expectations, with revenue rising 5.7% to $47.9 billion for the three months ended August 2, according to figures released Tuesday in Atlanta. Net income increased 4.7% to $4.8 billion, while adjusted earnings per share climbed 5.1% to $4.92.
Comparable sales, a key metric tracking sales at stores open at least a year, grew 1.7% during the quarter. The company’s performance reflected demand across all business segments as customers continued to prioritize smaller home improvement projects, Chief Financial Officer Richard McPhail said in a statement.
Shares of Home Depot rose more than 1% in pre-market U.S. trading following the results. The company, the world’s largest home improvement chain based in Atlanta, maintained its full-year guidance despite a cautious consumer outlook. Total sales are projected to increase between 2.5% and 4.5%, while comparable sales are expected to either grow up to 2% or remain flat in the worst-case scenario. Adjusted earnings per share are forecast to rise as much as 4% or match last year’s $14.69 per share.
McPhail noted that the second-quarter results surpassed the company’s expectations, citing broad-based demand across all segments. The guidance reflects ongoing uncertainty in consumer spending patterns, particularly for larger projects, though smaller projects continue to drive activity.
