The Home Depot reported fiscal second-quarter net sales up 5.7% to $47.86 billion, its best comparable sales growth since 2022, while confirming CEO Ted Decker is on temporary medical leave. Adjusted profit of $4.92 a share beat the $4.73 analysts expected, and comparable sales rose 1.7%, beating the 0.9% guess. The company received $730 million in tariff refunds, used mostly to lower cost of goods sold, and expanded its Express Delivery service nationwide. It kept its full-year sales growth forecast of 2.5% to 4.5% despite the leadership gap. CFO Richard McPhail noted that the mix of factors unlocking bigger renovation projects hasn't yet materialized, and home turnover remains at a multi-year low, so the sales gain relies on smaller projects. Decker's leave adds uncertainty at the $337 billion company with 470,000 workers and over 2,300 stores, as his duties are split between two leaders.
The Home Depot IncRecord sales growth and earnings beat, with tariff refunds lowering costs.
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