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Aug 03, 2025
Home Depot Q2 2025 Earnings Report
The Home Depot reported its second quarter fiscal 2025 results, with sales increasing by 4.9% and comparable sales up 1.0%. Net earnings were $4.6 billion, and the company reaffirmed its fiscal 2025 guidance.
Key Takeaways
The Home Depot delivered second quarter fiscal 2025 results that were in line with expectations, driven by continued momentum from smaller home improvement projects. The company achieved a 4.9% increase in sales to $45.3 billion and a 1.0% rise in comparable sales, while net earnings remained strong at $4.6 billion. Adjusted diluted EPS saw a slight increase, and the company reaffirmed its full-year guidance.
Sales for the second quarter of fiscal 2025 reached $45.3 billion, marking a 4.9% increase compared to the same period last year.
Comparable sales for the quarter increased by 1.0% overall, with U.S. comparable sales growing by 1.4%.
Net earnings for the second quarter were $4.6 billion, resulting in diluted earnings per share of $4.58.
Adjusted diluted earnings per share for the quarter were $4.68, showing a slight increase from the prior year.
Forward Guidance
The Home Depot reaffirmed its fiscal 2025 guidance, indicating expectations for continued performance in line with previous projections.
Positive Outlook
- Reaffirmed fiscal 2025 guidance suggests confidence in continued business performance.
- Momentum from the back half of last year continued into the first half of fiscal 2025.
- Customers are engaging more broadly in smaller home improvement projects, indicating a stable demand segment.
- Teams are executing at a high level, contributing to market share growth.
- Adjusted operating margin guidance for fiscal 2025 excludes a significant impact from acquired intangible asset amortization, suggesting underlying operational strength.
Challenges Ahead
- Fiscal 2025 is a 52-week year compared to a 53-week year in fiscal 2024, which could impact year-over-year comparisons.
- Foreign exchange rates negatively impacted total company comparable sales by approximately 40 basis points.
- Net earnings for the current quarter were slightly lower than the same period in fiscal 2024.
Historical Earnings Impact
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