- SRS Distribution Completes Acquisition of HVAC Distributor Mingledorff's
May 11, 2026
MCKINNEY, Texas and ATLANTA, May 11, 2026 /PRNewswire/ -- SRS Distribution Inc., a subsidiary of The Home Depot, has completed the acquisition of Mingledorff's, LLC. Mingledorff's is a leading wholesale distributor of heating, ventilation and air conditioning (HVAC) equipment, parts and supplies, serving residential and commercial customers through 42 locations in five states across the southeastern U.S. The agreement to acquire Mingledorff's was previously announced on March 24, 2026.The Home Depot logo. (PRNewsFoto/The Home Depot) (PRNewsFoto/)
The Home Depot is focused on growing its share of wallet with professional contractors (Pros), and the company is building differentiated offerings and capabilities to better serve Pros across their entire project – from large, complex jobs to smaller renovations and repairs. The Home Depot acquired SRS in 2024, establishing a leading position in specialty trade distribution across roofing and building products, interior and construction products, landscape and pool.
The acquisition of Mingledorff's adds HVAC distribution as a new vertical for SRS and brings an extensive product portfolio, robust distribution network and established customer relationships that are highly complementary to SRS's existing business. In addition, the acquisition enables The Home Depot to further penetrate the market for HVAC parts and supplies, creating even greater value for the Pro customer.
"The addition of Mingledorff's represents another key milestone in our strategy to better serve the Pro with the most comprehensive product and service offerings," said Ted Decker, chair, president and CEO of The Home Depot. "Adding this premier HVAC platform strengthens SRS's high-growth distribution engine and allows us to provide a more complete range of inventory and expertise for our Pro customers. This expansion also enables us to drive cross selling synergies and streamlined fulfillment across our Pro ecosystem, establishing The Home Depot as the ultimate destination for professional builders, general contractors, remodelers and multifamily customers."
"We are thrilled to officially welcome the Mingledorff's team to the SRS family of companies," said Dan Tinker, CEO of SRS. "We're focused on combining our collective strengths to deliver a seamless experience for our customers. By bringing Mingledorff's' deep HVAC expertise into our national network, we're providing Pros with even greater convenience and more ways to grow their businesses through a single, reliable partner."
Story Continues
HVAC distribution represents a total addressable market of approximately $100 billion and increases The Home Depot's total addressable market to $1.2 trillion.
Financial terms of the transaction were not disclosed.
About The Home Depot
The Home Depot is the world's largest home improvement specialty retailer. At the end of fiscal 2025, the company operated a total of 2,359 retail stores and over 1,250 SRS locations across all 50 states, the District of Columbia, Puerto Rico, the U.S. Virgin Islands, Guam, 10 Canadian provinces and Mexico. The company employs over 470,000 associates. The Home Depot's stock is traded on the New York Stock Exchange (NYSE: HD) and is included in the Dow Jones industrial average and Standard & Poor's 500 index.
About SRS
Founded in 2008 and headquartered in McKinney, Texas, SRS Distribution has grown to become one of the fastest-growing building products distributors in North America. Since the company's inception, it has established a differentiated growth strategy and entrepreneurial culture that is focused on serving customers, partnering with suppliers, and attracting the industry's best talent. SRS Distribution, a wholly owned subsidiary of The Home Depot, currently operates under a family of distinct local brands encompassing more than 1,250 locations across all 50 states and 5 Canadian provinces. For more information, visit www.srsdistribution.com.
About Mingledorff's
Founded in 1939 and headquartered in Peachtree Corners, Georgia, Mingledorff's is a leading wholesale distributor of HVAC equipment, parts and supplies to its residential and commercial professional customer base. With 42 locations across 5 states throughout the southeastern U.S., Mingledorff's provides Pros with an extensive HVAC product assortment blended with a best-in-class customer experience.
Cautionary Note Regarding Forward-Looking Statements
Certain statements contained herein constitute "forward-looking statements" as defined in the federal securities laws, including the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on currently available information and current assumptions, expectations and projections of The Home Depot, Inc. ("The Home Depot" and, collectively with its subsidiaries unless the context otherwise indicates, the "Company") about future events, and may use words such as "may," "will," "could," "should," "would," "anticipate," "intend," "estimate," "project," "plan," "believe," "expect," "target," "prospects," "potential," "commit" and "forecast," or words of similar import or meaning or refer to future time periods. Forward-looking statements may relate to, among other things, the expected benefits of the acquisition, including with respect to future financial performance. Forward-looking statements are subject to substantial risks and uncertainties, including, but not limited to, those described in Part I, Item 1A. "Risk Factors," and elsewhere in the Company's Annual Report on Form 10-K for the fiscal year ended February 1, 2026 (the "2025 10-K") filed with the Securities and Exchange Commission ("SEC") and also as described from time to time in reports subsequently filed by the Company, as well as the following: risks related to the ability to realize the anticipated benefits of the acquisition, including the possibility that the expected benefits from the acquisition will not be realized or will not be realized within the expected time period; the risk that the businesses will not be integrated successfully; disruption from the acquisition making it more difficult to maintain business and operational relationships; negative effects of the consummation of the acquisition on the market price of the Company's common stock, credit ratings or operating results or on relationships with customers, suppliers and other counterparties; costs associated with the acquisition; and unknown liabilities.
These statements are not guarantees of future performance and are subject to future events, risks and uncertainties – many of which are beyond the Company's control, dependent on the actions of third parties, or currently unknown to the Company – as well as potentially inaccurate assumptions that could cause actual results to differ materially from the Company's historical experience and its expectations and projections. In addition to the risks and uncertainties referenced above, there may be other factors that the Company cannot anticipate or that are not described herein, generally because the Company does not currently perceive them to be material. Such factors could cause results to differ materially from the Company's expectations. Forward-looking statements speak only as of the date they are made, and the Company does not undertake to update these statements other than as required by law. You are advised, however, to review any further disclosures the Company makes on related subjects in its filings with the SEC and in its other public statements.Cision
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- Home Improvement Spending Is, Well, Improving. Lowe’s Stock Looks Cheap.
May 8, 2026
The drop makes the stock look cheap, given improving home improvement trends, a Lowe’s first quarter that should impress, and its prospects for longer-term growth. Consider a survey of about 100 contractors from UBS analyst Michael Lesser. For these projects, Lowe’s and Home Depot are the top two destinations for contractors, or “pros” as the companies call them, out of five main ones.
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- Home Depot Hertz Military Campaign Aims To Deepen Long Term Loyalty
May 8, 2026
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Home Depot and Hertz have rolled out a nationwide campaign to honor military heroes across the United States. The program offers vehicle discounts, prize packages, and upgrades for active-duty service members, veterans, and their families. This initiative targets the military community as both customers and honorees, blending recognition with tangible benefits.
For investors watching Home Depot, ticker NYSE:HD, this campaign adds a fresh angle to the story beyond recent share price moves. The stock recently closed at $322.64, with a 3 year return of 21.0% and a 5 year return of 12.0%. In that context, the Hertz partnership highlights how the company is leaning into brand and community initiatives, not just store operations and product mix.
Readers can watch how this program resonates with military families and whether it helps deepen customer loyalty in a segment that is often highly engaged with home improvement and relocation needs. While it is too early to draw conclusions, the scale and visibility of a nationwide campaign give investors another qualitative factor to track alongside traditional financial data.
Stay updated on the most important news stories for Home Depot by adding it to your watchlist or portfolio. Alternatively, explore our Community to discover new perspectives on Home Depot.NYSE:HD Earnings & Revenue Growth as at May 2026
📰 Beyond the headline: 2 risks and 3 things going right for Home Depot that every investor should see.
This partnership with Hertz plugs into Home Depot’s existing focus on home projects and mobility needs for both DIY customers and professionals. Military households often face frequent moves and home setup projects, so tying vehicle discounts to Home Depot gift cards, storage upgrades, and Husky tools keeps the brand present across that whole journey. For investors, this is less about near term sales and more about deepening engagement with a clearly defined customer group, in a period when the stock has been contending with housing headwinds, wage cost debates, and isolated theft and data privacy issues. It also gives Home Depot another touchpoint alongside its Pro ecosystem, technology investments, and marketing efforts that use first party data to tailor offers. Compared with peers like Lowe’s, Walmart, or Target, programs that integrate retail, services, and transportation may help tighten customer relationships rather than competing purely on price or promotions.
How This Fits Into The Home Depot Narrative
The military initiative lines up with the narrative focus on expanding customer reach and loyalty, supporting longer term demand for home improvement projects across different life stages and geographies. By offering discounts and benefits that depend on partnerships and external providers, it also underlines the execution risk highlighted in the narrative around external dependencies and service quality outside Home Depot’s direct control. The program’s emphasis on brand, community ties, and reputation with military families is not explicitly captured in the narrative, which centers more on Pro acquisitions, supply chain technology, and store productivity.
Story Continues
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The Risks and Rewards Investors Should Consider
⚠️ If service quality or contest administration disappoints participants, there is a risk of social media or press backlash that cuts against the brand goodwill Home Depot is aiming to build with military households. ⚠️ Relying on a rental car partner adds another layer of operational and reputational risk, especially at a time when investors are already watching Home Depot’s third party relationships after issues like the Wren Kitchens bankruptcy and ongoing data privacy debates. 🎁 A well executed nationwide program can deepen loyalty in a customer segment that often has recurring home improvement and relocation needs, which may support steady traffic even when bigger discretionary projects are soft. 🎁 The collaboration shows how Home Depot can use partnerships to extend its reach beyond the store, which may help it stand out from competitors like Lowe’s and Walmart that are also vying for share in home related spending.
What To Watch Going Forward
Investors may want to watch how much visibility Home Depot gives this campaign in future commentary, including any references to customer engagement, contest participation, or repeat visits from military households. It is also worth tracking whether this remains a one off promotion or evolves into a recurring pillar of its marketing and partnership playbook alongside Pro ecosystem deals. Any signs that similar cross industry collaborations are expanding, or that the company is tightening how they are governed after recent partner related challenges, will help show whether these efforts are reinforcing or complicating the broader HD story.
To ensure you're always in the loop on how the latest news impacts the investment narrative for Home Depot, head to the community page for Home Depot to never miss an update on the top community narratives.
This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
Companies discussed in this article include HD.
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- Inside Home Depot’s marketing playbook: weather signals, influencers, and an app to drive bigger baskets
May 6, 2026
Molly Battin, Home Depot’s chief marketing officer, oversees far more than advertising. Product sits within her organization as a shared function across marketing and technology, giving her influence over the digital tools customers use to search for products, plan projects, and shop through the app. At Home Depot, the path to purchase often begins there—on a phone screen or in a search bar—long before a shopper reaches the aisle.
Home improvement rarely starts with casual online browsing, Battin quips. More often, it begins with a broken faucet, a paint job already underway, or a project that has suddenly become urgent. Each task brings its own questions, creating a narrow window for Home Depot to surface the right information, recommend the right products, and capture the sale. The company’s structure, she says, brings marketing closer to the digital tools that interpret those signals and respond in real time, placing her team nearer to the moment a home project becomes a purchase.
In many companies, product teams build the digital experience while marketers work to attract customers to it. At Home Depot, those functions operate side by side. Features such as Store Mode show shoppers the exact aisle and shelf section where an item is located, making the retailer’s vast warehouses easier to navigate, especially for less experienced homeowners who arrive with a project in mind but only a rough sense of what they need. In a business where customers often walk in with a repair, a renovation, or a half-formed idea, that kind of digital guidance can shape both the speed of the trip and the likelihood of a sale. “The merger of marketing and tech has never been greater,” Battin tells Fortune.
Home Depot’s first-party data gives it unusual precision, she adds. The company uses weather and regional signals to determine which products to surface, which projects to emphasize, and how ads should look and read in different markets. That targeting is effective, Battin explains, because home improvement demand is highly situational. When spring arrives early in Atlanta, outdoor work, garden projects, and backyard upgrades become more relevant. A cold or rainy stretch in New York can shift attention toward indoor repairs and maintenance. AI helps the company move faster, adjusting imagery, seasonal details, and copy across markets without rebuilding campaigns from scratch. The result is marketing that more closely reflects the conditions shaping customer demand.
The Home Depot app sits at the center of that strategy. Customers who use it spend three to four times more than those who do not, Battin says, which helps explain why mobile carries so much weight inside the company. The app is especially valuable for younger customers, who often come to Home Depot with less confidence than earlier generations and prefer guidance at their fingertips rather than across a counter from a sales associate.
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The creator economy gives Home Depot another way to reach customers through the social media channels that increasingly influence how they browse and buy. The company launched its creator portal in December as a more formal vehicle for cultivating those partnerships, though Battin says Home Depot resists the industry’s reflexive chase for scale. It treats creators less as rented reach than as extensions of the brand, with the emphasis on fit. The retailer prioritizes creators who understand the category, feel native to the brand, and can speak credibly to both DIY shoppers and, at times, pros. “That trust is so important to us,” Battin says, adding that Home Depot wants creators who can “tell the story authentically.” The company’s partnership portal now includes nearly 3,000 creators.
That strategy becomes more powerful when it does more than lift demand for a single breakout product. Battin points to the Grand Duchess, an artificial Christmas tree that already had viral appeal before a creator helped build additional momentum around it. The campaign turned a popular item into an entry point for Home Depot’s broader home decor business, drawing in shoppers who had not previously bought decor from the retailer. Home Depot declined to share full category-specific sales data, but said that 25% of customers who bought the Grand Duchess tree through creator links during the 2025 holiday season were new to the retailer, while 34% had shopped at Home Depot before but were new to its holiday category.
Taken together, Home Depot’s app, digital targeting, and creator strategy point to a broader definition of marketing than commercials and advertisements alone can capture. Marketing today, Battin says, extends into the customer touchpoints that shape how a shopper moves from intent to purchase. Moreover, it reflects the evolution of the CMO into a more technologically fluent and financially accountable operator than in years past.
This story was originally featured on Fortune.com
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- Home Depot Faces Shareholder Push On License Plate Data And Risk
May 6, 2026
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Shareholder proposal at Home Depot's 2026 Annual Meeting requests a report on customer data privacy risks tied to automated license plate reader cameras. The proposal focuses on Home Depot's use of Flock Safety systems and the sharing of license plate data with third parties, including local law enforcement. Supporters cite structural, reputational, regulatory, and civil rights concerns, while the Board advises shareholders to vote against the measure.
For investors watching NYSE:HD, this privacy proposal brings a different kind of risk discussion to the table, beyond sales or margin trends. The stock last closed at $315.42, with a 3 year return of 17.1% and a 5 year return of 7.8%. Those figures frame a long term track record that now sits alongside scrutiny of how retailers handle customer data.
Looking ahead to the 2026 Annual Meeting, the key question is not just whether the proposal passes, but how the debate influences Home Depot's data governance and disclosure practices. Investors may want to watch for any shifts in oversight, reporting, or engagement with civil rights and privacy stakeholders that could shape the company's risk profile over time.
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See which insiders are buying and buying and selling Home Depot following this latest news.
This proposal puts Home Depot's approach to customer surveillance and data sharing under the same spotlight that investors usually reserve for pricing, wages, or shrink. Zevin Asset Management is not asking to halt the use of automated license plate reader cameras, but to quantify and explain the customer privacy and civil rights risks tied to sharing that data with third parties, including law enforcement. For a retailer that relies on brand trust, any perceived gap between legal compliance and best practice can matter for long term customer loyalty and regulatory scrutiny. The Board's opposition signals confidence in current governance, while the proposal signals that at least some shareholder capital is focused on non financial risk that sits alongside theft prevention and loss control.
How This Fits Into The Home Depot Narrative
The request for a detailed risk report aligns with concerns in the broader narrative about external dependencies and execution risk, by pushing for clearer oversight around how technology and data are used in stores and parking lots. At the same time, it challenges the view that current governance is sufficient, by suggesting that civil rights and reputational issues tied to security technology may not be fully captured in existing disclosures. The specific focus on automated license plate readers and data flows to law enforcement is not clearly reflected in the narrative, which mainly concentrates on supply chain, Pro customers, and capital allocation.
Story Continues
Knowing what a company is worth starts with understanding its story. Check out one of the top narratives in the Simply Wall St Community for Home Depot to help decide what it is worth to you.
The Risks and Rewards Investors Should Consider
⚠️ Heightened scrutiny of customer surveillance and data sharing could bring regulatory, legal, or reputational risk if practices are viewed as out of step with privacy expectations. ⚠️ If the Board and proponents remain far apart on oversight, the issue could become a recurring point of contention at future meetings, which may contribute to governance related risk alongside existing flags about debt levels and insider selling. 🎁 A well scoped report could help quantify non financial risk, giving investors more clarity on how privacy, civil rights, and data governance are managed alongside operational and theft related concerns. 🎁 Constructive engagement with shareholders on this topic could reinforce Home Depot's brand with customers and communities, which may support long term demand relative to peers such as Lowe's and Walmart that also face scrutiny over surveillance and data use.
What To Watch Going Forward
Investors may want to track the level of support the proposal receives at the 2026 meeting, any Board response that goes beyond the vote outcome, and whether Home Depot updates its disclosures or policies on surveillance, data retention, and law enforcement access. Future commentary from management on theft prevention, technology investments, and risk oversight will help show whether this remains a narrow governance dispute or becomes part of a broader shift in how the company talks about customer data and civil rights.
To stay informed on how the latest news affects the investment narrative for Home Depot, visit the community page for Home Depot to follow the top community narratives.
This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
Companies discussed in this article include HD.
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- Dick's, Home Depot, and Kohl's Shares Are Falling, What You Need To Know
May 5, 2026
What Happened?
A number of stocks fell in the afternoon session after the spike in oil prices threatened to siphon another round of discretionary spending away from store registers.
With WTI above $105 and gasoline already at $4 per gallon, every additional dollar at the pump is a dollar not spent on apparel, electronics, or home goods a dynamic that hits discretionary retailers hardest.
Combined with rising freight costs, tariff pressures on imported goods, and the prospect of weaker summer foot traffic if travel and tourism patterns disrupt, retailers faced a particularly difficult margin and comp-sales setup heading into back-to-school season.
The stock market overreacts to news, and big price drops can present good opportunities to buy high-quality stocks.
Among others, the following stocks were impacted:
Sports & Outdoor Equipment Retailer company Dick's (NYSE:DKS) fell 2.7%. Is now the time to buy Dick's? Access our full analysis report here, it’s free. Home Improvement Retailer company Home Depot (NYSE:HD) fell 2.9%. Is now the time to buy Home Depot? Access our full analysis report here, it’s free. Department Store company Kohl's (NYSE:KSS) fell 2.8%. Is now the time to buy Kohl's? Access our full analysis report here, it’s free.
Zooming In On Home Depot (HD)
Home Depot’s shares are not very volatile and have only had 2 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful, although it might not be something that would fundamentally change its perception of the business.
The previous big move we wrote about was 26 days ago when the stock gained 5.1% on the news that President Trump announced a two-week suspension of attacks on Iran, resulting in a 17% drop in crude oil prices.
Consumer retail stocks gained as the drop in oil prices alleviates inflationary pressures on both the supply and demand sides. Retailers had been bracing for a period of high freight costs and cautious consumer spending, but the news shifted that narrative toward growth. The retail sector benefits from lower inbound shipping costs as fuel surcharges retreat.
Furthermore, as more vessels pass through the Strait of Hormuz, the risk of inventory shortages for goods sourced from or through the region is significantly diminished. This "ceasefire dividend" allows retailers to maintain better margins while potentially passing savings to customers.
Adding to the optimism, Delta's (DAL) record quarterly sales suggest that discretionary spending power remains intact despite recent geopolitical headwinds. When coupled with the 17% plunge in oil prices, this trend signals a turning point for consumer confidence and a cooling of the inflationary pressures that have recently weighed on the retail sector.
Story Continues
Home Depot is down 9.7% since the beginning of the year, and at $312.40 per share, it is trading 26.2% below its 52-week high of $423.42 from September 2025. Investors who bought $1,000 worth of Home Depot’s shares 5 years ago would now be looking at only $938.79.
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- BofA reinstates Home Depot and Lowe’s coverage, favors one over the other
May 5, 2026
Investing.com -- Bank of America on Tuesday reinstated coverage of Home Depot and Lowe’s at Buy and Neutral, respectively, pointing to Home Depot’s greater exposure to professional contractors as a key differentiator in a still-subdued housing market.
The bank set a price target of $374 for Home Depot and $260 for Lowe’s.
Speaking broadly, BofA analysts said the home improvement sector is awaiting a housing recovery that has yet to materialize, with existing home sales running well below their long-term average and mortgage rates keeping many homeowners on the sidelines.
Home Depot’s Pro segment, which accounts for roughly half of its retail sales, has delivered five consecutive quarters of positive comparable sales and is seen as more resilient than the do-it-yourself market in the current environment.
"HD is our preferred stock within the home improvement sector; we think HD’s comp growth will outperform driven by higher Pro penetration and expect traffic trends will hold up better than peers as we move past industry-wide price increases in 2H," analysts Christopher Nardone and Madeline Cech said in a note.
BofA’s own aggregated credit and debit card data showed Home Services spending — used as a proxy for professional activity — running at +3.3% for the fiscal first quarter to date, compared with a decline of 0.8% for home improvement retail, a proxy for DIY demand.
The analysts also pointed to Home Depot’s recent acquisitions, SRS Distribution and Gypsum Management Supply, as potential earnings drivers once roofing volumes normalize.
Roofing shipments were severely depressed in 2025 amid an absence of major hurricanes and tough year-over-year comparisons. "We view 2025 roofing and complex Pro demand as trough-like, with normalization driving incremental upside," they wrote.
For Lowe’s, the analysts acknowledged the company’s progress in lifting its Pro mix from around 19% in 2019 to roughly 30% today, and said recent acquisitions of Foundation Building Materials and Artisan Design Group signal a serious push into the complex Pro customer segment.
However, with DIY still representing 70% of Lowe’s sales, the analysts said a broader improvement in consumer and housing conditions is needed before a more constructive view is warranted. "The backdrop for DIY needs to improve for us to turn more positive on a sales acceleration cycle," they said.
BofA also flagged that Lowe’s recent comp recovery has been driven more by pricing and ticket size than by volume, with customer transactions declining between 3% and 5% for the past three years. Once tariff-related price increases are lapped in the second half of 2026, sustaining comparable sales growth could prove challenging.
Story Continues
Home Depot shares are at a five-year relative trough versus Lowe’s on a forward price-to-earnings basis, which the analysts view as a compelling entry point.
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- The Home Depot to Host First Quarter Earnings Conference Call on May 19
May 5, 2026
ATLANTA, May 5, 2026 /PRNewswire/ -- The Home Depot®, the world's largest home improvement retailer, announced today that it will hold its First Quarter Earnings Conference Call on Tuesday, May 19, at 9 a.m. ET.The Home Depot logo. (PRNewsFoto/The Home Depot) (PRNewsFoto/)
A webcast will be available by logging onto http://ir.homedepot.com/events-and-presentations and selecting the First Quarter Earnings Conference Call icon or directly at https://event.choruscall.com/mediaframe/webcast.html?webcastid=prbb0CKb. The webcast will be archived, and the replay will be available beginning at approximately noon on May 19.
The Home Depot is the world's largest home improvement specialty retailer. At the end of fiscal 2025, the company operated a total of 2,359 retail stores and over 1,250 SRS locations across all 50 states, the District of Columbia, Puerto Rico, the U.S. Virgin Islands, Guam, 10 Canadian provinces and Mexico. The company employs over 470,000 associates. The Home Depot's stock is traded on the New York Stock Exchange (NYSE: HD) and is included in the Dow Jones industrial average and Standard & Poor's 500 index.Cision
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- How The Story For Home Depot (HD) Is Shifting With PRO Growth And New Guidance
May 5, 2026
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Home Depot’s model fair value holds at US$408.21 per share. This sits against a backdrop of many analysts recently moving their price targets into a broad mid US$300s to mid US$400s range. Those updates are tied to reactions around Q4 results, refreshed long term guidance, and views on how much the PRO focused acquisitions can support the current valuation. As you read on, you will see how this evolving narrative can help you track where sentiment is firming up and where skepticism still sits.
Analyst Price Targets don't always capture the full story. Head over to our Company Report to find new ways to value Home Depot.
What Wall Street Has Been Saying
🐂 Bullish Takeaways
Several firms have raised Home Depot price targets into the high US$300s to mid US$400s, with UBS lifting its target to US$450 and Jefferies to US$454 after Q4, signaling confidence that the current model and long term guidance can support higher valuations. Guggenheim and Wells Fargo both highlighted Q4 results that topped their expectations, with Guggenheim pointing to progress in PRO ecosystem initiatives and Wells Fargo pointing to stabilizing trends, which supports the view that Home Depot is executing on key growth projects. Goldman Sachs, Telsey Advisory and Truist each kept positive ratings while adjusting models around FY26 guidance, suggesting that Home Depot’s long term plan and ongoing investments and acquisitions are central to their constructive stance.
🐻 Bearish Takeaways
RBC Capital and Bernstein raised or maintained targets at the lower end of the current range and kept more neutral ratings such as Sector Perform and Market Perform, highlighting subdued expectations around Q4 and cautious views on home improvement demand. Piper Sandler and Goldman Sachs both trimmed targets modestly in recent months, reflecting concerns that macro and housing related factors, including remodel demand and broader economic signals, may limit near term upside even as the company invests for future growth.
Do your thoughts align with the Bull or Bear Analysts? Perhaps you think there's more to the story. Head to the Simply Wall St Community to discover more perspectives!NYSE:HD 1-Year Stock Price Chart
We've flagged 2 risks for Home Depot. See which could impact your investment.
What's in the News
Home Depot introduced an expanded Pro digital workspace within its Pro Xtra ecosystem, giving professional customers tools to plan projects, track deliveries in real time, manage complex orders, review purchase history, and share account access across teams. The company plans to launch what it describes as the industry's first real time delivery tracker for big and bulky materials like concrete, drywall, and lumber, offering minute by minute truck route and arrival updates through its app and website. Home Depot issued fiscal 2026 guidance that targets total sales growth of about 2.5% to 4.5% and diluted EPS that is expected to be roughly flat to 4% above the reported US$14.23 for fiscal 2025. The board approved a 1.3% increase in the quarterly dividend to US$2.33 per share, or US$9.32 annually. The company also plans to open about 15 new stores in 2026 alongside its ongoing digital investments.
Story Continues
How This Changes the Fair Value For Home Depot
Fair value stays at US$408.21 per share, with no change to the central estimate. Revenue growth assumption is effectively unchanged, holding near 4.19% in both the prior and updated models. Net profit margin assumption eases slightly from 9.20% to 9.13%, adjusting long term dollar earnings expectations. Future P/E multiple edges from 30.62x to 30.92x, applying a marginally higher multiple to expected earnings. Discount rate moves from 8.77% to 8.84%, indicating a modestly higher required return for the stock.
Never Miss an Update: Follow The Narrative
Narratives connect Home Depot's business story, like its PRO ecosystem and acquisitions, to a structured set of assumptions about revenue, margins, and fair value. They refresh as new results, guidance, or risks come through, so you can see how the thesis is evolving over time.
Head over to the Simply Wall St Community and follow the Narrative on Home Depot to stay up to date on:
How investments in supply chain technology, machine learning based delivery optimization, and in store digital tools are intended to improve service for both DIY and PRO customers. What the SRS and pending GMS acquisitions, along with the wider PRO ecosystem build out, could mean for complex project demand and Home Depot's role with higher ticket customers. Key pressure points such as softer big ticket remodeling projects, higher capital spending needs, and inventory trends that may affect margins and future growth.
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Companies discussed in this article include HD.
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- Home Depot (HD) Falls More Steeply Than Broader Market: What Investors Need to Know
May 4, 2026
Home Depot (HD) ended the recent trading session at $312.55, demonstrating a -3.5% change from the preceding day's closing price. The stock fell short of the S&P 500, which registered a loss of 0.41% for the day. Elsewhere, the Dow lost 1.13%, while the tech-heavy Nasdaq lost 0.19%.
Coming into today, shares of the home-improvement retailer had gained 0.7% in the past month. In that same time, the Retail-Wholesale sector gained 11.33%, while the S&P 500 gained 10.02%.
The investment community will be paying close attention to the earnings performance of Home Depot in its upcoming release. The company is slated to reveal its earnings on May 19, 2026. The company's upcoming EPS is projected at $3.42, signifying a 3.93% drop compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $41.53 billion, indicating a 4.2% upward movement from the same quarter last year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $15.03 per share and a revenue of $171.13 billion, signifying shifts of +2.31% and +3.91%, respectively, from the last year.
Investors should also note any recent changes to analyst estimates for Home Depot. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. As of now, Home Depot holds a Zacks Rank of #4 (Sell).
Looking at its valuation, Home Depot is holding a Forward P/E ratio of 21.55. Its industry sports an average Forward P/E of 21.55, so one might conclude that Home Depot is trading at no noticeable deviation comparatively.
We can also see that HD currently has a PEG ratio of 3.54. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Retail - Home Furnishings was holding an average PEG ratio of 1.8 at yesterday's closing price.
Story Continues
The Retail - Home Furnishings industry is part of the Retail-Wholesale sector. At present, this industry carries a Zacks Industry Rank of 214, placing it within the bottom 13% of over 250 industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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The Home Depot, Inc. (HD) : Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).
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