Description

The Home Depot’s $41.8 Billion Quarter: Is The Pro Segment Hiding The Real Story?

The Home Depot reported first-quarter fiscal 2026 sales of $41.8 billion, representing a 4.8% increase year-over-year, with comparable sales rising 0.6%. U.S. comps increased by 0.4%, driven largely by positive performance in the Northern and Western divisions, benefiting from favorable weather conditions supporting outdoor projects. Adjusted diluted earnings per share were $3.43, down slightly from $3.56 in the previous year’s quarter, aligning with company expectations. Foreign exchange positively contributed approximately 55 basis points to total company comps, while Canada faced negative comps and Mexico posted gains in local currency. The company recently completed the acquisition of Mingledorff’s, a wholesale HVAC distributor, broadening The Home Depot’s market penetration within the pro-focused heating, ventilation, and air conditioning space. This acquisition expands the addressable market to approximately $1.2 trillion and supports the company’s strategic focus on professional customers (Pros), an area with an estimated $700 billion opportunity.