<p><strong>Home Depot Inc</strong> (NYSE:HD) will report first-quarter (Q1) results on Tuesday before the open, offering a glimpse into consumer trends in the housing market. Here's what analysts expect and the key items to watch.</p>



<h2>Home Depot Q1 Earnings Estimates</h2>



<p>Analysts expect the home improvement retailer to report Q1 revenue of $41.54 billion. That’s up from $39.86 billion in last year's Q1, according to data from Benzinga Pro.</p>



<p>The company has beaten analyst estimates for revenue in two straight quarters and in seven of the last 10 quarters overall.</p>



<p>Analysts expect Home Depot to report Q1 earnings per share of $3.41, down from $3.56 year-over-year.</p>



<p>The company has beaten analyst estimates for earnings per share in seven of the last 10 quarters, including the most recently reported fourth quarter.</p>



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<h2>What Home Depot Experts Are Saying</h2>



<p>Freedom Capital Markets Chief Market Strategist Jay Woods said the stock has been weighed down by several items ahead of earnings.</p>



<p>&#34;Home Depot continues to lag the S&amp;P 500, weighed down by a stagnant housing market, cautious consumer spending, and concerns around inflation and financing costs,&#34; Woods said in a weekly newsletter.</p>



<p>Woods said comparable sales are one of the key items to watch on Tuesday.</p>



<p>&#34;Let's see if comparable sales trends stayed positive, if management signals growing confidence and provides a full-year outlook that looks achievable without depending on a sharp housing rebound.&#34;</p>



<p>Here are other recent analyst ratings and their price targets:</p>



<ul>
<li>Oppenheimer: Maintained Perform rating, lowered price target from $405 to $310</li>



<li>Piper Sandler: Maintained Overweight rating, lowered price target from $422 to $421</li>



<li>Wells Fargo: Maintained Overweight rating, lowered price target from $420 to $375</li>



<li>Bernstein: Maintained Market Perform rating, lowered price target from $390 to $365</li>



<li>Truist: Maintained Buy rating, lowered price target from $424 to $394</li>
</ul>



<h2>Key Items to Watch</h2>



<p>The housing market remains a key theme to watch. Mortgage rates have been climbing in recent weeks, but data shows that buyers are still looking for homes.</p>



<p>Yet, many homeowners are unwilling to part with homes where they have low, locked-in mortgage rates. As a result, they’re likely to invest in home renovations rather than buy a new home.</p>



<p>This benefits companies like Home Depot and its main rival,<strong> Lowe's Companies</strong> (NYSE:LOW), which benefit from home renovation projects. </p>



<p>Visits to both stores likely rebounded in Q1, according to data from Placer.ai. Home Depot visits are up 1.9% year-over-year for Q1, with Lowe's seeing visits up 2% year-over-year in Q1. Here are the monthly breakdowns:</p>



<ul>
<li><strong>January</strong>: Home Depot +2.5%, Lowe's +3.9%</li>



<li><strong>February</strong>: Home Depot +2.4%, Lowe's +1.5%</li>



<li><strong>March</strong>: Home Depot +-0.3%, Lowe's +0.1%</li>
</ul>



<p>Data also showed Home Depot visits up 0.2% year-over-year in April, with Lowe's visits up 2.9% year-over-year.</p>



<p>The rebound to positive visits for the three months in the Q1 should not be ignored. Home Depot had visits growth of 0.4% year-over-year in the fourth quarter, according to Placer.ai. All other quarters in 2025 and 2024 had declines in visits.</p>



<h2>Price Action</h2>



<p>Home Depot stock is up 1.1% to $300.86 on Monday versus a 52-week trading range of $296.88 to $426.75. It’s down 13% year-to-date in 2026 and down 20.7% over the last 52 weeks.</p>



<p>Lowe's stock is down 8.5% year-to-date in 2026 and down 5.9% over the last 52 weeks, outperforming Home Depot on both metrics.</p>



<h2>What’s Next</h2>



<p>Lowe's also reports quarterly results this week, with a report coming on Wednesday, May 20, before market open.</p>



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<p><em>Image via Shutterstock</em></p>

NAIL

<p>Home Depot is set to report Q1 earnings, with analysts expecting revenue of $41.54 billion, up from $39.86 billion last year. Despite a potential recovery in store visits, the stock has lagged behind the S&P 500, down 13% year-to-date. Analysts have lowered price targets, citing a stagnant housing market and cautious consumer spending as concerns. Key metrics to watch include comparable sales trends and management's outlook amidst rising mortgage rates.</p>

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Home Depot Q1 Preview: Wall Street Is Slashing Targets For A Stock Already At 3-Year Lows