Home Depot shares drop 3.4% May 13

Home Depot shares fell on May 13 as investors headed into the company’s next earnings report with the U.S. housing market and discretionary spending still under pressure. The stock closed at $302.55, down 2.55% on the day, according to Yahoo Finance market data. During the session, the shares traded as low as $299.27, which MarketBeat listed as the stock’s 52-week low. The move came less than a week before Home Depot is scheduled to report first-quarter 2026 results on May 19. ### Why were investors focused on Home Depot this week? May 19 is the date Home Depot has set for its first-quarter 2026 earnings release, according to the company’s investor relations calendar. The company said the release is scheduled for 9 a.m. Eastern, with its annual meeting of shareholders set for May 21. Wall Street is looking for revenue of about $41.64 billion for the quarter, according to MarketBeat’s compilation of analyst estimates. The same data service showed consensus earnings per share of $3.42 ahead of the report. Those expectations matter because Home Depot has been navigating a period in which higher borrowing costs and slower housing turnover have weighed on larger home-improvement projects. Atlanta Business Chronicle reported this week that the company has been leaning on professional contractors as consumers pull back on some discretionary renovation work. ### How far has the stock fallen? Yahoo Finance data showed Home Depot shares were down 17.8% on a six-month basis and 19.02% over one year as of the May 13 close. On a year-to-date basis, the stock was also lower, according to the same market data. MarketBeat showed the stock’s Wednesday trading range at $299.27 to $307.69. That intraday low matched the 52-week low listed on the site. The decline has left the stock well below its 52-week high of more than $426, based on market data services including MarketBeat and Business Insider. Analysts tracked by Business Insider still rate the shares a consensus “buy,” though that reflects published analyst opinions rather than a company forecast. ### What does Mingledorff’s add before this earnings report? May 11 was the date SRS Distribution, a Home Depot subsidiary, said it completed its acquisition of Mingledorff’s, an HVAC distributor based in the Southeast. In a press release posted on Home Depot’s investor relations site, SRS said Mingledorff’s serves residential and commercial customers through 42 locations in five southeastern states. March 24 was the date the companies first announced the deal, according to the same release. Home Depot bought SRS Distribution in 2024 as part of its push to expand with professional contractors and specialty trade customers. Atlanta Business Chronicle said the Mingledorff’s deal adds to that strategy at a time when Home Depot is trying to gain share with professionals. The company’s first-quarter report will be its first scheduled earnings release since the acquisition closed. ### What are investors likely to watch in the results? First-quarter revenue, earnings per share and comparable sales will be the immediate focus when Home Depot reports on May 19. Investors are also likely to look for management commentary on demand from professional contractors, big-ticket renovation spending and any effect from the Mingledorff’s acquisition. February 24 was the date of Home Depot’s last reported quarterly earnings, according to MarketBeat. That report beat consensus earnings expectations for the quarter, the service said, but the stock has remained under pressure in subsequent months. May 21 is the next date on Home Depot’s public calendar after earnings. The company’s annual shareholder meeting is scheduled for that morning, according to its investor relations website. (ir.homedepot.com)