Q1 2026 Home Depot Inc Earnings Call Transcript
Key Points
- Sales for the first quarter were $41.8 billion, an increase of 4.8% from the same period last year.
- The Home Depot Inc (HD) completed the acquisition of Mingledorff's, enhancing its HVAC distribution capabilities.
- Pro segment posted positive comps and outperformed DIY, indicating strong engagement with professional customers.
- Online sales leveraging digital platforms increased over 10% compared to the first quarter of last year.
- The company opened 2 new stores during the quarter, expanding its total store count to 2,361.
- Adjusted diluted earnings per share decreased to $3.43 from $3.56 in the first quarter of last year.
- Gross margin decreased by approximately 75 basis points from the first quarter of last year.
- Operating margin for the first quarter was 11.9%, down from 12.9% in the first quarter of 2025.
- Inventory turns decreased to 4.2 times from 4.3 times last year.
- The company experienced negative comps in Canada and larger discretionary projects remain under pressure.
(video playing)
Greetings and welcome to the Home Depot first-quarter 2026 earnings call. (Operator Instructions)
A reminder, this conference is being recorded. It is now my pleasure to introduce your host, Isabel Janci. Please go ahead.
Thank you, Christine, and good morning, everyone. Welcome to Home Depot's first-quarter 2026 earnings call. Joining us on our call today are Ted Decker, Chair, President and CEO; Ann-Marie Campbell, Senior Executive Vice President; Billy Bastek, Executive Vice President of Merchandising; and Richard McPhail, Executive Vice President and Chief Financial Officer.
Following our prepared remarks, the call will be open for questions. Questions will be limited to analysts and investors. (Event Instructions) If we were unable to get to your question during the call, please call Investor Relations at (770) 384-2387.
Before I turn the call over to Ted, let me remind you that today's press release and the presentations
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