Home Depot stock (US4370761029): Erste Group raises FY2028 EPS estimate

Erste Group Bank lifted its FY2028 EPS forecast for Home Depot to $16.30 from $16.26 following strong quarterly results that beat expectations on EPS and revenue, according to MarketBeat as of 05/11/2026. Meanwhile, SRS Distribution completed its acquisition of HVAC distributor Mingledorff's.

Home Depot reported quarterly EPS of $2.72, surpassing the $2.52 consensus, with revenue at $38.20 billion versus $38.01 billion expected, per MarketBeat as of 05/11/2026. Erste Group Bank analyst S. Lingnau raised the FY2028 EPS estimate to $16.30 from $16.26. Separately, Home Depot subsidiary SRS Distribution completed the acquisition of Mingledorff's, LLC, an HVAC distributor, as announced in a press release as of 05/11/2026.

As of: 11.05.2026

By the editorial team – specialized in equity coverage.

At a glance

• Name: The Home Depot, Inc.
• Sector/industry: Retail - Home Improvement
• Headquarters/country: United States
• Core markets: North America
• Key revenue drivers: DIY consumers, professional contractors
• Home exchange/listing venue: NYSE (HD)
• Trading currency: USD

Home Depot: core business model

The Home Depot, Inc. operates as the world's largest home improvement retailer, running large-format stores and an online platform. It serves do-it-yourself (DIY) customers, professional contractors, and maintenance/renovation businesses with products like building materials, tools, appliances, and services. The company focuses on an omnichannel approach, integrating physical stores with e-commerce for US investors exposed to consumer spending trends.

Main revenue and product drivers for Home Depot

Revenue stems primarily from sales to DIY enthusiasts (about 50% historically) and professionals (Pro segment around 45%), with services like tool rental and installation contributing the rest. Key categories include lumber, paint, flooring, and appliances. Recent quarterly revenue of $38.20 billion for the period ending early 2026 beat estimates, according to MarketBeat as of 05/11/2026.

Industry trends and competitive position

The home improvement sector benefits from US housing market dynamics, with Home Depot holding a leading position against Lowe's. Acquisitions like SRS Distribution's purchase of Mingledorff's bolster the Pro segment, targeting HVAC distribution amid growth in professional services, per the company press release as of 05/11/2026. The stock traded at $317.43 on NYSE as of 05/11/2026, per MarketBeat data.

Why Home Depot matters for US investors

As a NYSE-listed bellwether (HD), Home Depot reflects US consumer resilience and housing activity, key for retail investors tracking economic cycles. Its $316 billion market cap and $164.7 billion annual revenue underscore scale, with exposure to both discretionary DIY spending and essential Pro demand, according to Investing.com as of 05/11/2026.

Conclusion

Home Depot's recent earnings beat and Erste Group's raised FY2028 EPS estimate signal sustained profitability expectations, complemented by strategic acquisitions like Mingledorff's. Analyst consensus leans Moderate Buy with a $410.86 average target, though some price target cuts reflect caution. US investors monitor its role in housing and retail trends amid economic shifts.

Disclaimer: This article does not constitute investment advice. Stocks are volatile financial instruments.