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For a watchlist on October 3, 2026, The Home Depot (NYSE: HD), Lowe’s (NYSE: LOW) and Builders FirstSource (NYSE: BLDR) offer three different ways to track home-improvement demand. Their latest reported fiscal second-quarter results show modest comparable-sales growth at the two retailers, while Builders FirstSource’s outlook points to weaker housing activity in its markets. These operating signals can help frame further research, but they do not establish which stock is attractively valued or a buy.
What the latest results say
The companies’ fiscal Q2 2026 releases provide a useful, dated operating snapshot as of October 3, 2026. The figures are company-reported; Lowe’s full-year figures are management guidance rather than completed results.
| Company | Fiscal Q2 2026 operating results | Forward outlook in the cited release |
|---|---|---|
| The Home Depot (NYSE: HD) | Sales of $47.9 billion, up $2.6 billion or 5.7% year over year; comparable sales up 1.7%, including 1.3% in the U.S. Net earnings were $4.8 billion; diluted EPS was $4.79 and adjusted diluted EPS was $4.92. Company release dated August 18, 2026. | Reaffirmed fiscal 2026 guidance; the cited summary does not state its numerical terms. |
| Lowe’s (NYSE: LOW) | Sales of $26.0 billion versus $24.0 billion a year earlier; comparable sales up 0.2%. Diluted EPS was $4.27, flat year over year, and adjusted diluted EPS was $4.40. Online sales rose 15.7%, according to the company. Company release dated August 19, 2026. | Fiscal 2026 outlook revised to $92.0 billion in sales, flat comparable sales and approximately $12.25 adjusted diluted EPS. This is management’s outlook, reflecting first-half results and current demand trends. |
| Builders FirstSource (NYSE: BLDR) | The cited company outlook describes demand expectations; it does not provide a comparable retailer-style sales or comparable-sales figure in the supplied information. | Projected single-family starts in its geographies down mid- to high-single digits, multifamily starts down mid-single digits and repair/remodel activity down 1%. These are company projections, not final industry results. |
The three stocks represent different exposures
The Home Depot: broad retail demand with modest comp growth
Home Depot’s 5.7% total-sales growth and 1.7% comparable-sales increase are positive signals, but they describe one quarter, not a guarantee of continued growth. Its release identifies housing and home-improvement market conditions, consumer and trade credit, tariffs, labor, commodity prices, and realizing anticipated benefits from SRS and GMS among factors that could affect results. Read Home Depot’s Q2 2026 results and risk disclosure.
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Lowe’s reported a small 0.2% comparable-sales increase. The company said Pro customers, home services and online sales helped offset continued pressure in discretionary DIY spending. CEO Marvin R. Ellison described “Sustained growth in Pro, Online and Home Services” as contributing to the company’s fifth consecutive quarter of positive comparable sales, despite that DIY pressure. The updated annual outlook is useful context, but it remains a forecast and may change. See Lowe’s Q2 2026 results and guidance.
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Builders FirstSource: a more direct link to construction activity
Builders FirstSource supplies, manufactures and installs products for professional residential builders and serves repair-and-remodel activity. That makes its business more directly exposed to homebuilding activity than a consumer-facing retailer. Its outlook for weaker starts and repair/remodel activity in its geographies is a cautionary signal, not proof of how the full industry or the company’s eventual results will perform. The company cites economic conditions, inflation, interest rates, affordability, consumer confidence, labor and supply availability, tariffs, duties, and lumber and other commodity prices as factors affecting results. Read Builders FirstSource’s Q2 2026 release and outlook.
How to build a watchlist without treating it as a buy list
Start with the business model and customer mix: retail sales to DIY and professional customers are not directly comparable to supplying and installing products for builders. Then use a consistent framework to assess performance and risk.
Rank #2
- Track demand indicators. Follow comparable sales at Home Depot and Lowe’s, and watch housing-start and repair/remodel trends relevant to Builders FirstSource. A single quarter or company forecast is not a sector-wide verdict.
- Separate reported results from guidance. Home Depot’s reported Q2 figures and Lowe’s revised annual outlook answer different questions. Check whether subsequent results confirm, improve on or weaken management’s expectations.
- Review profitability and financial resilience. Compare margins, cash generation and balance-sheet flexibility in company filings before drawing conclusions from sales growth alone.
- Use dated valuation data. The cited operating releases do not provide October 3 closing prices, current valuation multiples or a peer valuation comparison. Assess price and valuation using the same date and methodology before deciding whether any company’s shares look compelling.
- Account for shared risks. Demand can respond to affordability, interest rates, labor and supply constraints, tariffs, and lumber or other commodity prices. Their effects may differ by company because the business models differ.
Lowe’s investor page characterizes its addressable sector as “a $1 trillion home improvement sector.” That is Lowe’s own description, not an independent market-size estimate. View Lowe’s investor information.
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As listed on the companies’ investor pages, Home Depot scheduled its Q3 2026 results for November 17, 2026, and Lowe’s listed its Q3 earnings call tentatively for November 18, 2026. Because both dates are after October 3, confirm the schedules and consult the actual releases before relying on them. Home Depot investor calendar · Lowe’s investor page.
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