HD · 10-Q · 2026Q3 · Full report

Operating Expense Trends

HOME DEPOT, INC. · 2026-08-25 · Importance 49 · Surprise 32 · In source text

Second-quarter SG&A increased $660 million, or 8.5%, to $8.4 billion, while SG&A as a percentage of sales increased to 17.6% from 17.1%. First-half SG&A increased $1.1 billion, or 7.1%, to $16.4 billion, and the ratio increased to 18.3% from 18.0%. Management attributed both increases primarily to higher operating costs relative to comparable sales performance. Second-quarter depreciation and amortization increased $46 million, or 5.7%, to $852 million, while first-half depreciation and amortization increased $91 million, or 5.7%, to $1.7 billion.

Key facts

• Selling, general and administrative expense for the three months ended August 2, 2026 was $8,424 million, an increase of $660 million (8.5%) from $7,764 million in the prior-year quarter. source
• Operating income for the three months ended August 2, 2026: $6,839 million (14.3% of net sales). source
• Operating income for the six months ended August 2, 2026: $11,820 million (13.2% of net sales). source
• Depreciation and amortization (consolidated) for the three months ended August 2, 2026 was $852 million versus $806 million in the prior year (increase of $46 million, or 5.7%). source

Impact estimates