Home Depot’s $730 million tariff refund was largely offset by rising costs

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  "company": {
    "name": "Home Depot",
    "domain": "homedepot.com"
  },
  "data": {
    "url": "https://fortune.com/2026/08/19/home-depot-730-million-tariff-refund-largely-offset-rising-costs-cfo/",
    "title": "Home Depot’s $730 million tariff refund was largely offset by rising costs",
    "author": "Sheryl Estrada",
    "excerpt": "Good morning. One of the more interesting threads from recent earnings calls: companies are handling tariff refunds very differently, and the amounts involved are substantial. The refunds stem from a February Supreme Court ruling that forced Customs and Border Protection to start returning duties collected under a since-struck-down law. That money is now showing up on the books of big companies like Home Depot , Amazon , and Walmart , each with its own approach. The retailer collected $730 million in IEEPA tariff refunds in a single quarter, arriving in a lump sum near the end of June. CFO Richard McPhail said on Tuesday’s Q2 call that $685 million of that related to inventory already sold, cutting cost of goods sold immediately and producing a 145 basis point gross margin benefit. The remaining $45 million is still sitting in inventory and will flow through as that inventory sells. That 145-basis-point benefit got trimmed by 60 basis points of unplanned cost inflation, leaving 85 basis points. A separate 60-basis-point drag from acquisition-related mix brought the net year-over-year gross margin improvement down to 25 basis points. Billy Bastek, EVP of merchandising, pointed to resin, metals, fuel and energy costs that weren’t in Home Depot’s original 2026 plan, plus a shifting trade landscape: the prior tariff regime expired in July and was replaced by a new Section 301...",
    "summary": "Home Depot collected $730 million in IEEPA tariff refunds in a single quarter, which arrived in a lump sum near the end of June.",
    "planning": false,
    "image_url": "https://fortune.com/img-assets/wp-content/uploads/2026/08/GettyImages-1247348646.jpg?resize=1200,600",
    "confidence": 0.9,
    "published_at": "2026-08-19T12:23:24Z",
    "article_sentence": "The retailer collected $730 million in IEEPA tariff refunds in a single quarter, arriving in a lump sum near the end of June.",
    "amount_normalized": 730000000
  }
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