Home Depot is scheduled to report its fiscal first-quarter 2026 results on Tuesday, May 19, before the opening bell, and Wall Street is heading into the release looking for proof that home-improvement demand is still holding up. The stock, often watched as a read on consumer spending and housing-linked activity, comes into the print with expectations for a mixed quarter: revenue growth, but lower profit per share.
Zacks Consensus Estimates call for revenue of about $41.53 billion, which would be up 4.2% from a year earlier, while earnings per share are seen at $3.42, down 3.93% year over year. That EPS estimate has not moved in the past 60 days, a sign that analysts have settled into a fairly narrow view of what Home Depot can deliver this quarter. The company's Zacks Rank is #3, or Hold.
The numbers matter because Home Depot sits at the center of a housing market that still is not fully thawed. Thirty-year mortgage rates remain elevated, housing turnover is suppressed and that keeps a lid on big-ticket renovation activity. Investors will be watching not just the headline results, but whether comparable sales come in relatively flat to slightly positive and whether the company says demand is improving as the year goes on.
There is also a split inside the business that matters. Home Depot’s Pro segment is likely to remain a bright spot, while more than half of its online orders are fulfilled through stores, a model that has become more important as the company pushes delivery and supply-chain improvements. Recent online comparable sales have already reflected benefits from investments in AI, delivery and supply chain optimization, giving the market a reason to look closely at digital execution rather than just store traffic.
The release also lands in a busy retail earnings week that includes Lowe's, which will add another layer to the read-through on housing and home-improvement demand. The broader backdrop points to a cautious but resilient consumer, one that is still spending selectively even as the housing market stays constrained. That leaves Home Depot in a familiar position: strong enough to keep growing, but not yet free of the pressure from higher borrowing costs and weaker turnover.
For investors, Tuesday’s report is less about whether Home Depot can avoid disappointment and more about whether it can show that the business is still building momentum under difficult conditions. If the company can hold sales growth, steady its margins and keep Pro and online channels moving in the right direction, the stock could find support. If not, the market will likely treat the muted EPS outlook as a warning that the housing drag is not easing as fast as hoped.
