Filing Flows › Home Depot (HD) › Q1 FY27
Home Depot (HD) Q1 FY27 earnings results (first quarter fiscal 2027)
10-Q filed May 27, 2026
Home Depot (HD) reported revenue of $41.8B for the first quarter fiscal 2027 (Q1 FY27), +5% from a year earlier and +9% from the quarter before. Operating margin was 11.9%, net earnings $3.3B (7.9% of revenue).
Home Depot, Q1 FY27: revenue $41.8B (+5% year over year), operating margin 11.9%, net earnings $3.3B, operating cash flow $6.0B. The chart follows the revenue to costs, profit and cash.
| Q1 FY27 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $41.8B | +9% | +5% |
| Gross profit | $13.8B | +11% | +2% |
| Operating profit | $5.0B | +29% | -3% |
| Net earnings | $3.3B | +28% | -4% |
| Operating cash flow | $6.0B | +80% | +39% |
| Free cash flow | $5.2B | +127% | +47% |
What changed
Revenue was $41.8B in Q1 FY27, up 5% year over year and up 9% from the previous quarter. Net sales – products was the largest line at 97% of revenue. Net sales – products added $1.9B year over year (up 5%), 101% of the total change. Net sales – services declined 1%.
Gross margin was 33.0%, down 0.8 points from Q1 FY26. Operating profit was $5.0B, a 11.9% margin (down 1.0 points year over year). Operating profit fell $0.15B even though revenue rose $1.9B versus Q1 FY26, so costs grew faster than sales. Operating expenses grew 6% against revenue growth of 5%. Net earnings were $3.3B, down 4% year over year. The effective tax rate was 24.9%.
Operating cash flow was $6.0B (up 39% year over year), 183% of net earnings. Non-cash charges added back $0.91B of depreciation and amortization and $0.18B of share-based compensation. Working capital and other items added $1.7B. Capital expenditures of $0.84B left free cash flow of $5.2B.
Questions
What was Home Depot's revenue in the first quarter fiscal 2027?
Home Depot (HD) reported revenue of $41.8B for the first quarter fiscal 2027 (Q1 FY27), +5% from a year earlier and +9% from the quarter before.
Was Home Depot profitable in the first quarter fiscal 2027?
Operating profit was $5.0B (11.9% of revenue) and net earnings $3.3B.
Source: Home Depot 10-Q on SEC EDGAR.