Was it left sitting for years with fuel in it? You probably need to disassemble and soak the carb 8 hrs (depending on cond) w/o adjustment screws, diaphragm and gaskets on the carb. Then use compressed carb cleaner to verify all ports and passages are open and int fuel screen is clean (above and below). Are the fuel lines soft and sealed air tight at ext and int fittings? Lightly seat and know your carb settings (hi/lo) before removing to have a starting point after cleaning.

Please let us know your results.

I don't know if the Homelite uses a spark arrestor screen over the muffler discharge, but if they become covered with soot, it won't run at high speed. Echo has/had this problem. If you have a screen and want to continue using it, remove it and heat it with a propane torch and that black covering will turn to dust.