The Home Depot Announces Second Quarter Fiscal 2026 Results;
The Home Depot ® , the world's largest home improvement retailer, today reported sales of $47.9 billion for the second quarter of fiscal 2026, an increase of $2.6 billion, or 5.7% from the second quarter of fiscal 2025. Comparable sales for the second quarter of fiscal 2026 increased 1.7%, and comparable sales in the U.S. increased 1.3%.
Net earnings for the second quarter of fiscal 2026 were $4.8 billion, or $4.79 per diluted share, compared with net earnings of $4.6 billion, or $4.58 per diluted share, in the same period of fiscal 2025.
Adjusted (1) diluted earnings per share for the second quarter of fiscal 2026 were $4.92, compared with adjusted diluted earnings per share of $4.68 in the same period of fiscal 2025.
“Our second quarter results exceeded our expectations. We saw broad based demand across the business as customers continued to engage in smaller projects,” said Richard McPhail, Executive Vice President and Chief Financial Officer.
“This quarter’s results were a testament to our investments across the business and our associates’ focus on customer service. Our teams did an exceptional job executing throughout a dynamic environment, and I would like to thank them for their continued hard work and dedication,” said Ann-Marie Campbell, Senior Executive Vice President.
The Company reaffirms its fiscal 2026 guidance. Guidance includes IEEPA tariff refunds, which are expected to partially offset unplanned fuel, energy, and other product input costs throughout the fiscal year.
• Diluted earnings-per-share to grow approximately flat to 4.0% from $14.23 in fiscal 2025
(1) The Company reports its financial results in accordance with U.S. generally accepted accounting principles (GAAP). As used in this earnings release, adjusted operating income, adjusted operating margin, and adjusted diluted earnings per share are non-GAAP financial measures. Refer to the end of this release for an explanation of these non-GAAP financial measures and reconciliations to the most directly comparable GAAP measures.
Adjusted (1) diluted earnings-per-share to grow approximately flat to 4.0% from $14.69 in fiscal 2025
The Home Depot will conduct a conference call today at 9 a.m. ET to discuss information included in this news release and related matters. The conference call will be available in its entirety through a webcast and replay at ir.homedepot.com/events-and-presentations.
At the end of the second quarter, the company operated a total of 2,364 retail stores and over 1,340 SRS locations across all 50 states, the District of Columbia, Puerto Rico, the U.S. Virgin Islands, Guam, 10 Canadian provinces and Mexico. The Company employs over 470,000 associates. The Home Depot's stock is traded on the New York Stock Exchange (NYSE: HD) and is included in the Dow Jones industrial average and Standard & Poor's 500 index. ### Cautionary Note Regarding Forward-Looking Statements Certain statements contained herein constitute "forward-looking statements" under the federal securities laws, including as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on currently available information and our current assumptions, expectations and projections about future events, and use words such as “may,” “will,” “could,” “should,” “would,” “anticipate,” “intend,” “estimate,” “project,” “plan,” “believe,” “expect,” “target,” "prospects,” “potential,” "commit” and "forecast,” or words of similar import or meaning or refer to future time periods. Forward-looking statements may relate to, among other things: our brand and reputation; the demand for our products and services, including as a result of macroeconomic conditions and changing customer preferences and expectations; net sales growth; comparable sales; the effects of competition; implementation of interconnected, store, supply chain, technology, innovation and other strategic initiatives, including with respect to real estate; inventory, on- shelf availability, and in-stock positions; the state of the economy; the state of the housing and home improvement markets; the state of the credit markets, including mortgages, home equity loans, and consumer and trade credit; the impact of tariffs; trade policy changes or restrictions, or international trade disputes and efforts and ability to continue to diversify our supply chain; issues related to the payment methods we accept; demand for credit offerings including trade credit; management of relationships with our associates, jobseekers, suppliers and service providers; cost and availability of labor; costs of fuel and other energy sources; events that could disrupt our business, supply chain, technology infrastructure, or demand for our products and services, such as tariffs, trade policy changes or restrictions or international trade disputes, natural disasters, climate change, public health issues, cybersecurity events, and labor disputes; geopolitical tensions or conflicts, military conflicts, or acts of war; our ability to maintain a safe and secure store environment; our ability to address expectations regarding sustainability and human capital management matters and meet related goals; continuation or suspension of share repurchases; net earnings and margin performance; earnings per share; future dividends; capital allocation and expenditures; productivity; liquidity; return on invested capital; expense and debt leverage; changes in interest rates; changes in foreign currency exchange rates; commodity or other price inflation and deflation; our ability to issue debt on terms and at rates acceptable to us; the impact and expected outcome of investigations, inquiries, claims, and litigation; the timing and expected impact of organizational changes, including within the Company's senior leadership team; the challenges of operating in international markets; the adequacy of insurance coverage; the effect of accounting charges; the effect of adopting certain accounting standards; the impact of legal and regulatory changes, including executive orders and other administrative or legislative actions, such as changes to tax laws and regulations; store openings and closures; financial outlook, including guidance for fiscal 2026; and the impact of acquired companies, including SRS and GMS, on our organization and the ability to recognize the anticipated benefits of completed or pending acquisitions.
These statements are not guarantees of future performance and are subject to future events, risks and uncertainties – many of which are beyond our control, dependent on the actions of third parties, or currently unknown to us – as well as potentially inaccurate assumptions that could cause actual results to differ materially from our historical experience and our expectations and projections. These risks and uncertainties include, but are not limited to, those described in Part I, Item 1A. "Risk Factors," and elsewhere in our Annual Report on Form 10-K for our fiscal year ended February 1, 2026 and also as described from time to time in reports subsequently filed with the Securities and Exchange Commission. There also may be other factors that we cannot anticipate or that are not described herein, generally because we do not currently perceive them to be material. Such factors could cause results to differ materially from our expectations. Forward-looking statements speak only as of the date they are made, and we do not undertake to update these statements other than as required by law. You are advised, however, to review any further disclosures we make on related subjects in our filings with the Securities and Exchange Commission and in our other public statements.
To provide additional transparency, we supplement our disclosure with certain non-GAAP financial measures. When used in conjunction with our GAAP financial measures, we believe these supplemental non-GAAP financial measures will help management and investors to better understand and analyze our performance. However, this supplemental information should not be considered in isolation or as a substitute for the related GAAP measures. Refer to the end of this release for an explanation and definitions of these non-GAAP financial measures and reconciliations to the most directly comparable GAAP measures.
Financial Community News Media Isabel Janci Sara Gorman Vice President of Investor Relations Senior Director of Corporate and Communications Treasurer 770-384-2666 770-384-2852 isabel_janci@homedepot.com sara_gorman@homedepot.com
(1) Customer transactions and average ticket measures do not include results from HD Supply or SRS.
August 2, August 3, in millions Six Months Ended 2026 2025 ────────────────────────────────────────────────────────────────────────────── Cash Flows from Operating Activities: Net earnings $ 8,055 $ 7,984 Reconciliation of net earnings to net cash provided by operating activities: Depreciation and amortization, excluding 1,839 1,720 amortization of intangible assets Intangible asset 349 278 amortization Stock-based compensation 326 288 expense Changes in working 570 -1,821 capital Changes in deferred income 58 490 taxes Other operating 225 29 activities Net cash provided by operating 11,422 8,968 activities Cash Flows from Investing Activities: Capital -1,724 -1,723 expenditures Payments for businesses -1,333 -233 acquired, net Other investing 46 64 activities Net cash used in investing -3,011 -1,892 activities Cash Flows from Financing Activities: Repayments of short-term debt, -216 -316 net Proceeds from 122 76 long-term debt Repayments of -3,040 -1,199 long-term debt Proceeds from sales of common 192 163 stock Cash dividends -4,643 -4,574 Other financing -116 -130 activities Net cash used in financing -7,701 -5,980 activities Change in cash and 710 1,096 cash equivalents Effect of exchange rate changes on cash -14 49 and cash equivalents Cash and cash equivalents at 1,389 1,659 beginning of period Cash and cash equivalents at end $ 2,085 $ 2,804 of period
Adjusted operating income, adjusted operating margin, and adjusted diluted earnings per share are presented as supplemental financial measures in the evaluation of our business that are not required by or presented in accordance with GAAP. The Company excludes the impact of amortization expense from acquired intangible assets from adjusted operating income and adjusted operating margin, and the impact of amortization expense from acquired intangible assets, including the related tax effects, from adjusted diluted earnings per share. We do not adjust for the revenue that is generated in part from the use of our acquired intangible assets. Amortization expense, unlike the related revenue, is not affected by operations in any particular period unless an intangible asset becomes impaired, or the useful life of an intangible asset is revised.
When used in conjunction with our GAAP results, we believe these non-GAAP measures provide investors with meaningful supplemental measures of our performance period to period, make it easier for investors to compare our underlying business performance to peers, and align to how management analyzes trends and evaluates performance internally. The Company provides non-GAAP financial information on this basis to facilitate comparability when we report earnings results. These non-GAAP measures should not be considered in isolation or as a substitute for their comparable GAAP financial measures. Investors should rely primarily on our GAAP results and use non-GAAP financial measures only supplementally in making investment decisions. Our calculation of non-GAAP measures may not be comparable to similarly titled measures reported by other companies and other companies may not define these non-GAAP financial measures in the same way, which may limit their usefulness as comparative measures.
(1) Operating margin is calculated as operating income divided by total net sales.
(2) Amounts include acquired intangible asset amortization of $125 million and $244 million during the three and six months ended August 2, 2026, respectively, and $87 million and $174 million during the three and six months ended August 3, 2025, respectively, related to SRS Distribution, Inc., and its subsidiaries.
(3) Adjusted operating margin is calculated as adjusted operating income divided by total net sales.
Our adjusted operating margin guidance for fiscal 2026 excludes an expected approxim ately 40 basis point im pact from acquired intangible asset amortization.
(1) Calculated as the per share impact of acquired intangible asset amortization multiplied by the Company’s effective tax rate for the period.
Our adjusted diluted earnings per share guidance for fiscal 2026 excludes an expected after-tax impact of a pproximately $0.50 from acquired intangible asset amortization.
Full text with the tables
Exhibit 99.1
The Home Depot Announces Second Quarter Fiscal 2026 Results;
Reaffirms Fiscal 2026 Guidance
ATLANTA, August 18, 2026 --
The Home Depot ® , the world's largest home improvement retailer, today reported
sales of $47.9 billion for the second quarter of fiscal 2026, an increase of
$2.6 billion, or 5.7% from the second quarter of fiscal 2025. Comparable sales
for the second quarter of fiscal 2026 increased 1.7%, and comparable sales in
the U.S. increased 1.3%.
Net earnings for the second quarter of fiscal 2026 were $4.8 billion, or $4.79
per diluted share, compared with net earnings of $4.6 billion, or $4.58 per
diluted share, in the same period of fiscal 2025.
Adjusted (1) diluted earnings per share for the second quarter of fiscal 2026
were $4.92, compared with adjusted diluted earnings per share of $4.68 in the
same period of fiscal 2025.
“Our second quarter results exceeded our expectations. We saw broad based demand
across the business as customers continued to engage in smaller projects,” said
Richard McPhail, Executive Vice President and Chief Financial Officer.
“This quarter’s results were a testament to our investments across the business
and our associates’ focus on customer service. Our teams did an exceptional job
executing throughout a dynamic environment, and I would like to thank them for
their continued hard work and dedication,” said Ann-Marie Campbell, Senior
Executive Vice President.
Fiscal 2026 Guidance
The Company reaffirms its fiscal 2026 guidance. Guidance includes IEEPA tariff
refunds, which are expected to partially offset unplanned fuel, energy, and
other product input costs throughout the fiscal year.
• Total sales growth of approximately 2.5% to 4.5%
• Comparable sales growth of approximately flat to 2.0%
• Approximately 15 new stores
• Gross margin of approximately 33.1%
• Operating margin of approximately 12.4% to 12.6%
• Adjusted (1) operating margin of approximately 12.8% to 13.0%
• Effective tax rate of approximately 24.3%
• Net interest expense of approximately $2.3 billion
• Diluted earnings-per-share to grow approximately flat to 4.0% from $14.23 in
fiscal 2025
(1) The Company reports its financial results in accordance with U.S. generally
accepted accounting principles (GAAP). As used in this earnings release,
adjusted operating income, adjusted operating margin, and adjusted diluted
earnings per share are non-GAAP financial measures. Refer to the end of this
release for an explanation of these non-GAAP financial measures and
reconciliations to the most directly comparable GAAP measures.
•
Adjusted (1) diluted earnings-per-share to grow approximately flat to 4.0% from
$14.69 in fiscal 2025
• Capital expenditures of approximately 2.5% of total sales
The Home Depot will conduct a conference call today at 9 a.m. ET to discuss
information included in this news release and related matters. The conference
call will be available in its entirety through a webcast and replay at
ir.homedepot.com/events-and-presentations.
At the end of the second quarter, the company operated a total of 2,364 retail
stores and over 1,340 SRS locations across all 50 states, the District of
Columbia, Puerto Rico, the U.S. Virgin Islands, Guam, 10 Canadian provinces and
Mexico. The Company employs over 470,000 associates. The Home Depot's stock is
traded on the New York Stock Exchange (NYSE: HD) and is included in the Dow
Jones industrial average and Standard & Poor's 500 index.
###
Cautionary Note Regarding Forward-Looking Statements
Certain statements contained herein constitute "forward-looking statements"
under the federal securities laws, including as defined in the Private
Securities Litigation Reform Act of 1995. Forward-looking statements are based
on currently available information and our current assumptions, expectations and
projections about future events, and use words such as “may,” “will,” “could,”
“should,” “would,” “anticipate,” “intend,” “estimate,” “project,” “plan,”
“believe,” “expect,” “target,” "prospects,” “potential,” "commit” and
"forecast,” or words of similar import or meaning or refer to future time
periods. Forward-looking statements may relate to, among other things: our brand
and reputation; the demand for our products and services, including as a result
of macroeconomic conditions and changing customer preferences and expectations;
net sales growth; comparable sales; the effects of competition; implementation
of interconnected, store, supply chain, technology, innovation and other
strategic initiatives, including with respect to real estate; inventory, on-
shelf availability, and in-stock positions; the state of the economy; the state
of the housing and home improvement markets; the state of the credit markets,
including mortgages, home equity loans, and consumer and trade credit; the
impact of tariffs; trade policy changes or restrictions, or international trade
disputes and efforts and ability to continue to diversify our supply chain;
issues related to the payment methods we accept; demand for credit offerings
including trade credit; management of relationships with our associates,
jobseekers, suppliers and service providers; cost and availability of labor;
costs of fuel and other energy sources; events that could disrupt our business,
supply chain, technology infrastructure, or demand for our products and
services, such as tariffs, trade policy changes or restrictions or international
trade disputes, natural disasters, climate change, public health issues,
cybersecurity events, and labor disputes; geopolitical tensions or conflicts,
military conflicts, or acts of war; our ability to maintain a safe and secure
store environment; our ability to address expectations regarding sustainability
and human capital management matters and meet related goals; continuation or
suspension of share repurchases; net earnings and margin performance; earnings
per share; future dividends; capital allocation and expenditures; productivity;
liquidity; return on invested capital; expense and debt leverage; changes in
interest rates; changes in foreign currency exchange rates; commodity or other
price inflation and deflation; our ability to issue debt on terms and at rates
acceptable to us; the impact and expected outcome of investigations, inquiries,
claims, and litigation; the timing and expected impact of organizational
changes, including within the Company's senior leadership team; the challenges
of operating in international markets; the adequacy of insurance coverage; the
effect of accounting charges; the effect of adopting certain accounting
standards; the impact of legal and regulatory changes, including executive
orders and other administrative or legislative actions, such as changes to tax
laws and regulations; store openings and closures; financial outlook, including
guidance for fiscal 2026; and the impact of acquired companies, including SRS
and GMS, on our organization and the ability to recognize the anticipated
benefits of completed or pending acquisitions.
These statements are not guarantees of future performance and are subject to
future events, risks and uncertainties – many of which are beyond our control,
dependent on the actions of third parties, or currently unknown to us – as well
as potentially inaccurate assumptions that could cause actual results to differ
materially from our historical experience and our expectations and projections.
These risks and uncertainties include, but are not limited to, those described
in Part I, Item 1A. "Risk Factors," and elsewhere in our Annual Report on Form
10-K for our fiscal year ended February 1, 2026 and also as described from time
to time in reports subsequently filed with the Securities and Exchange
Commission. There also may be other factors that we cannot anticipate or that
are not described herein, generally because we do not currently perceive them to
be material. Such factors could cause results to differ materially from our
expectations. Forward-looking statements speak only as of the date they are
made, and we do not undertake to update these statements other than as required
by law. You are advised, however, to review any further disclosures we make on
related subjects in our filings with the Securities and Exchange Commission and
in our other public statements.
Non-GAAP Financial Measures
To provide additional transparency, we supplement our disclosure with certain
non-GAAP financial measures. When used in conjunction with our GAAP financial
measures, we believe these supplemental non-GAAP financial measures will help
management and investors to better understand and analyze our performance.
However, this supplemental information should not be considered in isolation or
as a substitute for the related GAAP measures. Refer to the end of this release
for an explanation and definitions of these non-GAAP financial measures and
reconciliations to the most directly comparable GAAP measures.
For more information, contact
:
Financial Community News Media
Isabel Janci Sara Gorman
Vice President of Investor Relations Senior Director of Corporate
and Communications
Treasurer
770-384-2666 770-384-2852
isabel_janci@homedepot.com sara_gorman@homedepot.com
THE HOME DEPOT, INC.
CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS
(Unaudited)
in
m…
e…
p… … A… A… S… … …
s… … 2, 3, % M… … … %
d… … 2… 2… C… E… … … …
──────────────────────────────────────────────────────────────────────────────
… $ 4… $ 4… 5… % $ … $ … … %
…
…
… 3… 3… 5… … … …
…
… 1… 1… 6… … … …
…
…
…
…
… 8… 7… 8… … … …
…
…
…
… 8… 8… 5… … … …
…
…
… 9… 8… 8… … … …
…
… 6… 6… 4… … … …
…
…
…
…
…
…
…
…
… -… -… … … … …
…
…
… 5… 5… 1… … … …
…
…
… 5… 5… -… … … …
…
…
…
…
… 6… 6… 5… … … …
…
…
…
…
… 1… 1… 6… … … …
…
…
… $ 4… $ 4… 4… % $ … $ … … %
…
…
…
… 9… 9… 0… % … … … %
…
…
…
… $ 4… $ 4… 4… $ … $ … …
…
…
…
…
… 9… 9… 0… % … … … %
…
…
…
… $ 4… $ 4… 4… $ … $ … …
…
…
… S…
… M…
… E…
… … … % A… A… %
… … … … 2, 3, C…
… … … 2… 2…
…
… 1… % 1… % … … % … % N…
…
…
…
…
… -… % -… % … … % … % N…
…
…
…
…
… 2… % 1… % … … % … % N…
…
…
…
… 4… 4… -… % … … … %
…
…
… $ 9… $ 9… 2… $ … $ … …
…
—————
(1) Customer transactions and average ticket measures do not include results
from HD Supply or SRS.
THE HOME DEPOT, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(Unaudited)
August 2, August 3, February 1,
in millions 2026 2025 2026
──────────────────────────────────────────────────────────────────────────────
Assets
Current assets:
Cash and cash $ 2,085 $ 2,804 $ 1,389
equivalents
Receivables, 6,963 5,878 5,597
net
Merchandise 26,847 24,843 25,817
inventories
Other current 1,825 1,866 1,588
assets
Total current 37,720 35,391 34,391
assets
Net property 28,147 26,896 28,021
and equipment
Operating lease
right-of-use 9,300 8,662 9,204
assets
Goodwill 22,899 19,619 22,344
Intangible 10,482 8,770 10,329
assets, net
Other assets 836 711 806
Total assets $ 109,384 $ 100,049 $ 105,095
Liabilities and
Stockholders'
Equity
Current
liabilities:
Short-term debt $ 4,248 $ — $ 4,464
Accounts 13,585 13,086 11,491
payable
Accrued
salaries and 2,471 2,385 2,529
related
expenses
Current
installments of 4,697 6,400 4,967
long-term debt
Current
operating lease 1,516 1,336 1,418
liabilities
Other current 8,471 7,639 7,555
liabilities
Total current 34,988 30,846 32,424
liabilities
Long-term debt,
excluding 43,951 45,917 46,341
current
installments
Long-term
operating lease 8,155 7,668 8,160
liabilities
Other long-term 5,673 4,953 5,357
liabilities
Total 92,767 89,384 92,282
liabilities
Total
stockholders’ 16,617 10,665 12,813
equity
Total
liabilities and $ 109,384 $ 100,049 $ 105,095
stockholders’
equity
THE HOME DEPOT, INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(Unaudited)
August 2, August 3,
in millions Six Months Ended 2026 2025
──────────────────────────────────────────────────────────────────────────────
Cash Flows from
Operating
Activities:
Net earnings $ 8,055 $ 7,984
Reconciliation of
net earnings to
net
cash provided by
operating
activities:
Depreciation and
amortization,
excluding 1,839 1,720
amortization of
intangible assets
Intangible asset 349 278
amortization
Stock-based
compensation 326 288
expense
Changes in working 570 -1,821
capital
Changes in
deferred income 58 490
taxes
Other operating 225 29
activities
Net cash provided
by operating 11,422 8,968
activities
Cash Flows from
Investing
Activities:
Capital -1,724 -1,723
expenditures
Payments for
businesses -1,333 -233
acquired, net
Other investing 46 64
activities
Net cash used in
investing -3,011 -1,892
activities
Cash Flows from
Financing
Activities:
Repayments of
short-term debt, -216 -316
net
Proceeds from 122 76
long-term debt
Repayments of -3,040 -1,199
long-term debt
Proceeds from
sales of common 192 163
stock
Cash dividends -4,643 -4,574
Other financing -116 -130
activities
Net cash used in
financing -7,701 -5,980
activities
Change in cash and 710 1,096
cash equivalents
Effect of exchange
rate changes on
cash -14 49
and cash
equivalents
Cash and cash
equivalents at 1,389 1,659
beginning
of period
Cash and cash
equivalents at end $ 2,085 $ 2,804
of
period
NON-GAAP FINANCIAL MEASURES
Adjusted operating income, adjusted operating margin, and adjusted diluted
earnings per share are presented as supplemental financial measures in the
evaluation of our business that are not required by or presented in accordance
with GAAP. The Company excludes the impact of amortization expense from acquired
intangible assets from adjusted operating income and adjusted operating margin,
and the impact of amortization expense from acquired intangible assets,
including the related tax effects, from adjusted diluted earnings per share. We
do not adjust for the revenue that is generated in part from the use of our
acquired intangible assets. Amortization expense, unlike the related revenue, is
not affected by operations in any particular period unless an intangible asset
becomes impaired, or the useful life of an intangible asset is revised.
When used in conjunction with our GAAP results, we believe these non-GAAP
measures provide investors with meaningful supplemental measures of our
performance period to period, make it easier for investors to compare our
underlying business performance to peers, and align to how management analyzes
trends and evaluates performance internally. The Company provides non-GAAP
financial information on this basis to facilitate comparability when we report
earnings results. These non-GAAP measures should not be considered in isolation
or as a substitute for their comparable GAAP financial measures. Investors
should rely primarily on our GAAP results and use non-GAAP financial measures
only supplementally in making investment decisions. Our calculation of non-GAAP
measures may not be comparable to similarly titled measures reported by other
companies and other companies may not define these non-GAAP financial measures
in the same way, which may limit their usefulness as comparative measures.
RECONCILIATION OF ADJUSTED OPERATING INCOME AND ADJUSTED OPERATING MARGIN
U… T… A… A… S… A… A…
in M… 2, 3, % M… 2, 3, %
m… E… 2… 2… C… E… 2… 2… Ch…
──────────────────────────────────────────────────────────────────────────────
…
… $ 6… $ 6… 4… % $ 1… $ 1… 1.1 %
…
… 1… % 1… % 1… % 1… %
…
…
… 1… 1… 3… 2…
…
…
…
… $ 7… $ 6… 4… % $ 1… $ 1… 1.7 %
…
…
…
… 1… % 1… % 1… % 1… %
…
…
—————
(1) Operating margin is calculated as operating income divided by total net
sales.
(2) Amounts include acquired intangible asset amortization of $125 million and
$244 million during the three and six months ended August 2, 2026, respectively,
and $87 million and $174 million during the three and six months ended August 3,
2025, respectively, related to SRS Distribution, Inc., and its subsidiaries.
(3) Adjusted operating margin is calculated as adjusted operating income divided
by total net sales.
Our adjusted operating margin guidance for fiscal 2026 excludes an expected
approxim ately 40 basis point im pact from acquired intangible asset
amortization.
RECONCILIATION OF ADJUSTED DILUTED EARNINGS PER SHARE
per Th… Au… Aug… Six Au… Aug…
sh… Mo… 2, 3, % Mon… 2, 3, %
am… En… 20… 2025 Ch… End… 20… 2025 Ch…
──────────────────────────────────────────────────────────────────────────────
D…
e…
p… $ 4.… $ 4.58 4.6 % $ 8.… $ 8.03 0.7 %
s…
(…
I…
of
a… 0.… 0.14 0.… 0.28
i…
a…
a…
I…
t…
i… -0… -0.… -0… -0.…
of
n…
a…
A…
d…
e… $ 4.… $ 4.68 5.1 % $ 8.… $ 8.24 1.3 %
p…
s…
(…
—————
(1) Calculated as the per share impact of acquired intangible asset amortization
multiplied by the Company’s effective tax rate for the period.
Our adjusted diluted earnings per share guidance for fiscal 2026 excludes an
expected after-tax impact of a pproximately $0.50 from acquired intangible asset
amortization.