Home Depot's Q2 FY2026 results showed mid-single-digit revenue and earnings growth supported by the GMS acquisition and tariff refunds, while SG&A growth outpaced sales and pressured operating margin.
Revenue
$47.86B
+5.7% YoY
Net Income
$4.77B
+4.7% YoY
EPS (Diluted)
$4.79
+4.6% YoY
Gross Margin
33.7%
+0.3pp YoY
Key risk: Tariff and trade policy uncertainty
The filing notes ongoing tariff and other trade policy developments, including IEEPA litigation and additional tariffs, and states the ultimate impact on future results and cash flows cannot be predicted. Refunds have been received, but future tariff changes could materially affect costs and margins.