Home Depot, Inc. (The)

Greetings, and welcome to the Home Depot Second Quarter 2026 Earnings Conference Class. At this time, all participants are in a listen-only mode. A brief question and answer session will follow the formal presentation. If anyone should require operator assistance during the conference, please press star zero on your telephone keypad. As a reminder, this conference is being recorded. It is now my pleasure to introduce your host, Isabel Janci. Please go ahead.

Thank you, Christine, and good morning, everyone. Welcome to Loan Depot's second quarter 2026 earnings call. Joining us on our call today are Richard McPhail, Executive Vice President and Chief Financial Officer, Ann-Marie Campbell, Senior Executive Vice President, and Billy Bastek, Executive Vice President of Merchandising. Following our prepared remarks, the call will be open for questions. Questions will be limited to analysts and investors. As a reminder, please limit yourself to one question with one follow-up. If we are unable to get to your question during the call, please call our Investor Relations Department at 770-384-2387. Before I turn the call over to Richard, let me remind you that today's press release and presentations made by our executives include forward-looking statements Under the Federal Securities Law, including as defined in the Private Securities Litigation Reform Act of 1995. These statements are subject to risks and uncertainties that could cause actual results to differ materially from our expectations and projections. These risks and uncertainties include but are not limited to the factors identified in the release and in our most recent Annual Report Form 10-K, and other filings with the Securities and Exchange Commission. Today's presentation will also include certain non-GAAP measures, including but not limited to adjusted operating margin, adjusted diluted earnings per share and return on invested capital. For reconciliation of these and other non-GAAP measures to our corresponding GAAP measures, please refer to our earnings press release on our website. Now, let me turn the call over to Richard.

Thank you Isabel and good morning everyone. Before turning to our results, we want to touch on Ted's temporary medical leave of absence, which we announced last week. We wish Ted a quick recovery and appreciate the support that has been shown by so many Home Depot partners. We look forward to Ted's return in a few months and we will share any material developments as appropriate. Ann and I are supported by an exceptional leadership team and a dedicated board, and together we are wholly focused on executing our strategy and winning in our market. Turning to the quarter, sales for the second quarter were $47.9 billion, an increase of 5.7% from the same period last year. Comp sales increased 1.7% from the same period last year, and Thompson, U.S. increased 1.3%. Adjusted diluted earnings per share were $4.92 in the second quarter compared to $4.68 in the second quarter last year. Our second quarter results exceeded our expectations and our teams did a great job executing throughout a dynamic environment. Our customers continue to engage in home improvement projects, and throughout the quarter, we saw broad-based demand across the business. In the U.S., our northern and western divisions posted positive comps, and Mexico and Canada posted positive comps. While consumer uncertainty and housing affordability continue to pressure demand for larger home improvement projects, we remain focused on what we can control. Our strategy of driving our core and culture, delivering a frictionless interconnected experience, and winning the pro. With that, I'll turn it over to Ann.