EARNINGS & CATALYSTS · November 10, 2026
Home Depot earnings preview: traffic and margins in focus on November 17, 2026
Home Depot’s November 17 earnings will test whether small-project demand can sustain growth. Watch customer traffic, margins after tariff refunds and the annual outlook.
| Company | Report date | Window | EPS estimate | Revenue estimate |
|---|---|---|---|---|
| The Home Depot, Inc. (HD) | November 17, 2026Issuer confirmed | Before open | 3.83 | 42.77B |
1) When will Home Depot report, and what is expected?
Home Depot confirmed its fiscal third-quarter 2026 earnings call for November 17, 2026, before open. Results are expected ahead of the call. The consensus checked on November 10 was $42.72 billion in revenue and $3.86 in adjusted diluted earnings per share (EPS, or profit per share). These analyst estimates can change. Adjusted earnings exclude selected costs and differ from standard accounting profit.
2) What do the last two quarters show?
Fiscal first-quarter revenue was $41.765 billion with adjusted EPS of $3.43. The second quarter delivered $47.861 billion and $4.92. Both beat the release-date expectations shown in the comparison image. The stock gained 0.9% between the May 18 and May 19 closes, then slipped 0.1% between the August 17 and August 18 closes. A beat alone does not determine the price reaction.
3) Why do profit margins need a closer look?
Home Depot had received about $730 million in tariff refunds by August 2, with $685 million reducing the cost of goods sold. Most expected refunds had already arrived. Investors should watch whether everyday sales can cover rising operating costs once this temporary benefit becomes smaller. The useful comparison is profit from ongoing demand alongside any unusual items.
4) How the business makes money
Home Depot sells tools, building materials and home improvement products through stores and online. Its professional supply businesses, including SRS, serve contractors. Home repairs and maintenance support recurring demand, while larger renovations depend more on household confidence and financing costs.
5) What to watch
The key test is whether more customers return to projects, rather than sales relying mainly on bigger purchases. Watch professional demand, comparable sales—sales at existing locations—and any change to the annual outlook. Stronger traffic with stable costs would give growth a firmer base.
6) Recently reported peers
Builders FirstSource reported on October 29. Adjusted EPS of $1.51 exceeded its $1.06 consensus, while revenue of $3.854 billion topped $3.76 billion. Yet sales fell 2.2% from a year earlier and its gross margin weakened. It narrowed its annual sales range to $14.2–$14.6 billion without changing the midpoint. BLDR supplies homebuilders and has greater exposure to new construction; its results highlight housing pressure without predicting Home Depot’s outcome.
7) Risks into the report
High financing costs can delay larger renovations, and cautious shoppers can reduce purchases. Fuel, labor and product costs may squeeze profit even when revenue rises. Acquired businesses also need to deliver enough profit and cash to justify their cost. An earnings beat could still disappoint if the outlook weakens.
8) Insider activity over the past three months
$0 bought and $3.34M sold in reported trades. 0% buy / 100% sell by value. 0 insiders bought only, 4 sold only, and 0 did both.