Retailer The Home Depot (HD) has posted first-quarter financial results that surpassed Wall Street’s expectations.
The Atlanta-based company reported earnings per share (EPS) of $3.43 U.S., which topped the $3.41 U.S. consensus expectation of analysts.
Revenue in the year’s first three months totaled $41.77 billion U.S., which beat the $41.52 billion U.S. estimate on Wall Street. Sales were up 5% from a year earlier.
Management at Home Depot said that consumers remain resilient in the face of higher gas prices, leading the home improvement retailer to reaffirm its full-year guidance.
The company said it continues to expect 2026 sales to grow between 2.5% and 4.5%, compared to expectations of 4% growth.
However, while Home Depot managed to beat estimates on its top and bottom lines, the company’s comparable sales came in at 0.6%. That was below expectations of 0.8%.
It was the third consecutive quarter that comparable sales failed to beat expectations.
Home Depot has come under pressure as it has contended with a weak housing market, economic uncertainty, and an ongoing delay in home improvement projects.
The company has responded by focusing more on winning over pro shoppers such as contractors and roofers, which currently make up 50% of its annual revenue.
HD stock has declined 21% in the last 12 months to trade at $299.81 U.S. per share.
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