Home Depot says core shopper is resilient in the face of higher gas prices, sales rise 5%

SAN DIEGO, CALIFORNIA - MARCH 23: A Home Depot logo is displayed on a sign outside of a store on March 23, 2026 in San Diego, CA. (Photo by Kevin Carter/) Kevin Carter | News | Home Depot said Tuesday its core homeowner shopper remains resilient in the face of higher gas prices and plummeting consumer confidence, leading the retailer to reaffirm its full-year guidance after beating fiscal first-quarter expectations. "The homeowner in a relevant sense is perhaps more protected financially than other customer cohorts and so we continue to see engagement," finance chief Richard McPhail told CNBC in an interview. Still, in the face of rising geopolitical tensions, plummeting consumer confidence and a broken housing market, those shoppers are engaged "up to a certain point," said McPhail. "They continue to tell us that they are going to defer their spend on larger projects," he said. "That's consistent with what they've told us the last few years." Here's how Home Depot did compared with what Wall Street was anticipating, based on a survey of analysts by LSEG: Earnings per share: $3.43 adjusted vs $3.41 expected Revenue: $41.77 billion vs. $41.52 billion expected The company's reported net income for the three-month period that ended May 3 was $3.29 billion, or $3.30 per share, compared with $3.43 billion, or $3.45 per share, a year earlier. …