Home Depot Reports Q2 2025 Financials

The Home Depot released its Q2 2025 financials, reporting sales of $45.3 billion, an increase of 4.9% from the second quarter of fiscal 2024. Comparable sales for Q2 2025 increased 1% and comparable sales in the U.S. increased 1.4%.

Net earnings for the second quarter of fiscal 2025 were $4.6 billion, unchanged from the second quarter of fiscal 2024.

“Our second quarter results were in line with our expectations. The momentum that began in the back half of last year continued throughout the first half as customers engaged more broadly in smaller home improvement projects,” says Ted Decker, chair, president and CEO of The Home Depot. “Our teams are executing at a high level and we continue to grow market share. I would like to thank our associates for their continued hard work and dedication.”

The company’s average ticket increased 1.4% while transaction count decreased 0.4%. Big-ticket transactions over $1,000 grew 2.6% compared to the prior year.

During the Q2 2025 earnings call, chief marketing officer Billy Bastek says 12 of the company’s 16 merchandising departments posted positive comparable sales during the quarter, including storage, bath, hardware, building materials, indoor garden, electrical, kitchen, outdoor garden, millwork, power tools, plumbing and appliances.

“We achieved a company sales record for battery-powered tools during the second quarter,” Bastek says.

Online sales also increased 12% year over year, driven by faster delivery options.

June marked a year since The Home Depot completed the acquisition of SRS Distribution, and in June, SRS announced it was in agreement to acquire GMS Inc., a leading North American speciality building products distributor,and earlier this week, SRS  announced its acquisition of Roadrunner Roofing Supply, Inc., a wholesale distributor of residential roofing and related accessories. The acquisition of GMS adds 1,200 locations, a sales operation of over 3,500 associates and a fleet of nearly 8,000 trucks, plus a complementary adjacent vertical to with differentiated capabilities, product categories and customer relationships to provide flexibility in the supply chain, Decker says.

“GMS will be added to our organic efforts to better serve pros working on complex projects, enabling us to offer a deeper and broader assortment of interior building products and services, as well as additional fulfillment options, despite the uncertainty and volatility in the market,” Decker says. “We are confident that we can effectively navigate this environment. Over the last several years, our teams have done an incredible job partnering with our vendors to diversify product sourcing, which gives us unique flexibility in our supply chain. We will continue to work with our vendors to ensure that we have the right product at the right value, in stock and on shelf for our customers to purchase.”

Ann-Marie Campbell, senior executive vice president of U.S. stores and operations, says The Home Depot continues to focus on the pro ecosystem, maturing new capabilities for pros working on complex projects.

“We’re thrilled with the progress we’ve made across expanded assortments, fulfillment options, our sales teams, account management and more recently, trade credit and order management,” Campbell says. “We’ve been leveraging SRS to continue to ramp up or trade credit capabilities. Today, we have several thousand pros with a trade credit account, and we’ve seen a double digit lift in their spend across channels once these pros started using their trade credits.”

At the end of the second quarter, the company operated a total of 2,353 retail stores and over 800 branches 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.

Home Depot reaffirmed its guidance for fiscal 2025:

• Total sales growth of approximately 2.8%
• Comparable sales growth of approximately 1%
• Opening 13 new stores
• Gross margin of approximately 33.4%