TGT Q1 2026 Earnings — Income Statement Breakdown
For its Q1 2026 period (ending 2026-05-02), TGT reported revenue of $25.4B, gross profit of $7.4B (29.0% gross margin), operating income of $1.1B, and net income of $781M (3.1% net margin). The flow of revenue into costs and profit is visualized below.
What changed
TGT was profitable; revenue fell 16.5% quarter over quarter.
| Comparison | Revenue | Net income | Net margin |
|---|---|---|---|
| Year over year | Not available | Not available | Not available |
| Quarter over quarter | −16.5% | −25.3% | −0.4 pp |
Consensus estimate data is not available for this report.
TGT Q1 2026 Income Statement
| Line item | Amount (USD) | % of revenue |
|---|---|---|
| Revenue | $25.4B | 100% |
| Cost of Revenue | −$18.1B | 71.0% |
| Gross Profit | $7.4B | 29.0% |
| Research & Development | — | 0.0% |
| Selling, General & Administrative | −$5.6B | 21.9% |
| Other Operating Expenses | −$685M | 2.7% |
| Operating Income | $1.1B | 4.5% |
| Interest Expense | −$117M | 0.5% |
| Other Income, net | −$15M | 0.1% |
| Income Tax Expense | −$252M | 1.0% |
| Net Income | $781M | 3.1% |
Source: TGT filings on SEC EDGAR (period ended 2026-05-02). Data normalized by EarningsFyi.