Home Depot is scheduled to report fiscal second-quarter earnings Tuesday morning — under the company’s retail calendar, the quarter runs roughly from May through July — and expectations are modest.

The consensus earnings-per-share estimate is $4.73, which would be just 1% higher than a year earlier. Revenue is expected to reach $47.2 billion, marking 4.4% year-over-year growth.

HD stock is trading around $338.70, down about 15% over the past year and slightly lower since the start of 2026.

The Home Depot, Inc., HD

Home Depot’s average analyst price target is roughly $376, or about 13% above the current share price. Just over half of the analysts tracked by FactSet remain bullish on the stock.

The housing market continues to weigh on results. As the largest home-improvement retailer in the United States, Home Depot is widely watched as a barometer of housing-linked consumer demand. The affordability crisis — elevated mortgage rates and high home prices have kept many homeowners locked into properties purchased at cheaper borrowing costs — has reduced the number of Americans moving, and that has limited the big home-improvement spending that often follows home purchases or relocations.

Recent foot-traffic data points in the same direction. According to Placer.ai, overall visits and average foot traffic per location declined in the second quarter, reinforcing investor expectations for another sluggish report.

There is also a management-related concern. Last week, the company’s CEO announced a medical leave of absence, which has added caution among some investors ahead of the earnings release.

How Peers Have Performed

Home Depot’s peers in the home furnishing and improvement sector have delivered mixed but generally constructive results.

Floor & Decor reported year-over-year revenue growth of 3%, beating estimates by 1.6%, and its stock rose 4.1% after the announcement. Arhaus reported revenue growth of 7.4%, topping estimates by 4.9%, and its shares jumped 16.6%.

Over the past month, stock prices in the broader home furnishing and improvement retail group have increased by an average of 3.3%. Home Depot has gained 1.7% over the same period. Lowe’s, Home Depot’s closest competitor, typically reports its own quarterly results within days of Home Depot’s release, offering another read on demand across the category.

Home Depot’s Recent Track Record

In the prior quarter, Home Depot reported revenue of $41.77 billion, up 4.8% from a year earlier. The company narrowly beat EPS expectations but slightly missed on gross margin. That makes margins, along with comparable-store sales and any update to the company’s full-year outlook, part of what analysts will be listening for on Tuesday.

Analysts have mostly kept their estimates unchanged over the past 30 days, suggesting they do not expect a major surprise from Tuesday’s report.

Home Depot has a long record of beating Wall Street expectations. If it repeats the stronger-than-expected performance seen in the first quarter, the stock could regain some of its recent losses. Commentary on demand from professional contractors — a customer group Home Depot has expanded through its roughly $18 billion acquisition of building-products distributor SRS Distribution in 2024 — will also be part of the readout.

The stock’s valuation has eased after its underperformance over the past year, which some analysts view as a more reasonable entry point.

Tuesday’s report will cover fiscal second-quarter results. Heading into the release, Home Depot shares are down about 15% over the trailing 12 months and are trading near $338.70.