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Sentiment · FY2026 Q1
What companies say about each other on earnings calls — extracted verbatim from public transcripts. Mentions from the newest quarter are a Pro feature.
“The Home Depot is applying Google AI across the board from cloud tools to AI-powered ads and YouTube creator partnerships that connect with the next generation of Duos.”
Home Depot is cited as a customer deploying Google AI across cloud, ads, and YouTube, with double-digit gains in ad clicks and visits.
“But we've been able to leverage the capabilities at Allstate Protection Plans to add new partners, like Tom mentioned, with Home Depot and Walmart.”
Allstate cites Home Depot as a new protection-plans (extended-warranty) distribution partner, a read-through that Home Depot offers Allstate-backed protection plans.
“The Home Depot is trialing some trade credit, which we think will make a real difference.”
The Home Depot is piloting trade credit for pro paint customers, which Masco expects to help drive pro paint share gains through its exclusive retail partner.
“Our continued strategic alignment and partnership with The Home Depot led to our recognition as Supplier of the Year for the paint department in the United States and Canada, and Interconnected Partner of the Year in Mexico.”
Masco (Behr) deepened its exclusive paint relationship with The Home Depot, its largest customer, earning Supplier of the Year recognition and underscoring the strategic importance of the partnership to both.
“we are actually still doing deals with Walmart, with Home Depot, with Lowe’s, with Target, across the portfolio, in similar structures where we set it up as a long-term ground lease”
Kimco continues to structure long-term ground-lease deals with anchor tenant Home Depot across its portfolio.
“We certainly have a unique relationship with Home Depot. It spans 40-plus years, incredibly strong.”
Masco characterizes its 40-plus-year Home Depot relationship as unique and strong, run on price-cost neutrality over time.
“We remain tightly aligned with The Home Depot as we both prioritize and invest in strategic initiatives that allow us to capitalize on the sizable growth opportunity in the PRO Paint market.”
Masco is Home Depot's exclusive Behr paint supplier and describes tight alignment on the PRO Paint growth opportunity.
“we've got leases going with Home Depot, Target, Lowe's, you name it, Walmart, Costco, they're all in active expansion mode.”
Home Depot is signing new leases and in active expansion mode, a positive demand signal for the retailer's physical footprint growth.
“We think about the extraordinary companies that remade their business by incorporating technology solutions into an older platform like Walmart or Home Depot. They invested heavily in their technology-enabled solutions and cemented themselves as industry leaders.”
Lennar's Executive Chairman cites Home Depot as a model for an established, physical-asset-heavy company that reinvented itself through heavy technology investment, framing Lennar's own tech-transformation strategy.
“we sold a long-term flat lease for $49.5 million on a Home Depot parcel in Santa Ana, California at a 5.7% cap rate.”
Kimco sold a low-growth Home Depot ground-lease parcel as part of its capital recycling into higher-growth grocery-anchored assets.
“As you know, our partner, the Home Depot, is very focused on the PRO. We're very committed to working with them and putting strategies in place to grow into the future.”
Management points to Home Depot's own focus on professional contractors as a growth lever for Masco's PRO Paint business, which has grown 70% from 2020-2024.
“Our strategic investments in this category and our close partnership with the Home Depot continue to result in growth with PRO customers.”
Masco credits its close retail partnership with Home Depot as a key driver of PRO Paint growth under the Behr brand.
“In addition to the GMS acquisition, they completed several tuck-in acquisitions and opened a number of greenfield locations across their verticals.”
Home Depot's SRS unit closed its GMS acquisition and multiple tuck-ins, expanding distribution scale in building products.
“PGT's impact-resistant windows are engineered to meet some of the highest performance standards in the industry, reducing storm damage risk, providing energy efficiency, UV protection and sound reduction. And they will be exclusive to The Home Depot in the big box channel.”
Home Depot added PGT impact-resistant windows as a new exclusive big-box vendor, a win for PGT's distribution into HD's retail channel.
“In September, SRS completed the acquisition of GMS, a leading distributor of specialty building products, including drywall, ceiling and steel framing related to remodeling in construction projects.”
Home Depot's SRS subsidiary acquired building-products distributor GMS in September, adding roughly $2B of incremental sales and expanding HD's complex-Pro wholesale reach.
“we are excited about the pending acquisition of GMS, a leading distributor of specialty building products, including drywall, ceilings, and steel framing, related to remodeling and construction projects.”
Home Depot is acquiring GMS (specialty building-products distributor) to fold into SRS, signaling continued consolidation of the residential building-products distribution channel.
“we were extremely pleased to announce an expanded relationship with BEHR to exclusively offer KILZ branded primer products in the United States. With our new exclusive agreement, the Home Depot will become the only home improvement big box retailer to offer KILZ branded primer products”
Home Depot secured an exclusive U.S. agreement with BEHR (Masco) to be the sole home-improvement big-box retailer carrying KILZ primer products.
| Analyst | Firm | Questions (Challenge)Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Simeon Gutman | Morgan Stanley | 14 (7%) |
| Mike Lasser | UBS | 14 (36%) |
| Steve Zaccone | Citigroup | 12 (0%) |
| Zach Fadem | Wells Fargo | 12 (0%) |
| Chris Horvers | JPMorgan | 10 (10%) |
| Chuck Grom | Gordon Haskett | 10 (0%) |
| Seth Sigman | Barclays | 10 (20%) |
| Zhihan Ma | Bernstein | 9 (11%) |
| Scot Ciccarelli | Truist Securities | 8 (0%) |
| Steve Forbes | Guggenheim | 6 (0%) |
| Firm | Analysts | Questions (Challenge)Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| UBS | 1 | 14 (36%) |
| Morgan Stanley | 1 | 14 (7%) |
| Citigroup | 1 | 12 (0%) |
| Wells Fargo | 1 |
| 12 (0%) |
| Barclays | 1 | 10 (20%) |
| Gordon Haskett | 1 | 10 (0%) |
| JPMorgan | 1 | 10 (10%) |
| Bernstein | 1 | 9 (11%) |
Home Depot closed fiscal 2025 with Q4 revenue of $41.2 billion, up 5.8% year-over-year including SRS and the newly closed GMS acquisition, while comparable sales grew 0.7%. Full-year EPS of $15.21 exceeded the top of guidance as SRS and GMS together contributed $14 billion in annual revenue, transforming HD's Pro supply chain platform. Management introduced fiscal 2026 guidance of $165-$168 billion in revenue with EPS of $15.40-$15.80, calling for 1-2% comp growth as the housing turnover cycle gradually normalizes.
Demand | Macroeconomic | Competitive Dynamics | M&A | Margin | Revenue Growth | Pricing | Capex Investment | |
|---|---|---|---|---|---|---|---|---|
| 2024Q3 | 7 | 6 | 3 | 3 | 2 | 1 | 1 | |
| 2024Q4 | 3 | 3 | 4 | 2 | 5 | 1 | 1 | 3 |
| 2025Q1 | 7 | 4 | 5 | 3 | 2 | 2 | 3 | 2 |
| 2025Q2 | 4 | 2 | 4 | 3 | 1 | 3 | 2 | |
| 2025Q3 | 7 | 4 | 3 | 6 | 4 | 2 | 2 | 2 |
| 2025Q4 | 5 | 3 | 2 | 2 | 1 | 2 | 2 | 2 |
| 2026Q1 | 8 | 5 | 3 | 3 | 1 | 5 | 1 |
| '24Q3 | '24Q4 | '25Q1 | '25Q2 | '25Q3 | '25Q4 | '26Q1 | |
|---|---|---|---|---|---|---|---|
| Demand | 7 | 3 | 7 | 4 | 7 | 5 | 8 |
| Macroeconomic | 6 | 3 | 4 | 2 | 4 | 3 | 5 |
| Competitive Dynamics | 3 | 4 | 5 | 4 | 3 | 2 | 3 |
| M&A | 3 | 2 | 3 | 3 | 6 | 2 | 3 |
| Margin | 2 | 5 | 2 | 1 | 4 | 1 | 1 |
| Revenue Growth | 1 | 2 | 3 | 2 | 2 | 5 | |
| Pricing | 1 | 1 | 3 | 2 | 2 | 2 | 1 |
| Capex Investment | 1 | 3 | 2 | 2 | 2 |
| Company | Score | Trend | Rev YoY |
|---|---|---|---|
HD The Home Depot, Inc. | 4 | +4.8% | |
| LOW Lowe's | 5 | +10.3% |