Home Depot Beats Estimates on Faster Sales Growth

Home Depot reported better-than-expected Q2 results with positive comparable sales and reaffirmed guidance. Lindsay Dutch of Bloomberg Intelligence says DIY consumers and pros held in, but the reaffirmed guidance implies slower top-line growth and housing-related uncertainty in the second half. She also notes lower- and middle-income consumers are pulling back while higher-income consumers are still supporting home furnishing demand at retailers like Arhaus. - Home Depot Q2 results beat estimates, with comparable sales up 1.7% and adjusted earnings above expectations. - DIY consumer held in better than expected and pros are still spending. - Guidance was reaffirmed but implies slower top-line growth in the second half. - Lindsay Dutch sees continued housing market pressure and consumer uncertainty. - Lower-income consumers have pulled back; middle-income consumers are starting to pull back. - High-income consumers are still driving home refresh demand at high-end home furnishings retailers like Arhaus.