Target Q2 EPS $4.11 vs $2.05 on tariff refunds; full-year EPS outlook raised to $9.90-$10.90
Target reported second-quarter 2026 net sales of $26.5 billion, up 5.3 percent, and diluted EPS of $4.11 versus $2.05 a year earlier. The results include a $994 million tariff refund benefit worth $1.65 per share, and excluding refunds EPS rose 20 percent. Target raised its full-year 2026 net sales growth outlook to around 5 percent and set a full-year EPS range of $9.90 to $10.90, which includes the refund benefit.
Key points
- Q2 net sales of $26.5 billion rose 5.3 percent; comparable sales grew 3.8 percent, with digital comparable sales up 8.7 percent.
- Q2 operating income was $2.6 billion versus $1.3 billion last year, including the $994 million tariff refund benefit.
- Full-year 2026 EPS guidance is $9.90 to $10.90, including about $1.65 of Q2 tariff refund benefit; the company excludes potential future refunds from guidance.
- No stock was repurchased in Q2; about $8.3 billion remained under the repurchase program approved in August 2021.
The filing
Written by AI on Nov 8, 2026, 1:42 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on August 19, 2026.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.