Lowe’s announced mixed results on Wednesday, citing “pressure” on customer project spending.
During the second quarter, Lowe’s reported Revenue of $25.96 billion vs. $26.16 billion expected.
Lowe’s Companies, Inc. reported net earnings of $2.4 billion and diluted earnings per share (EPS) of $4.27 for the quarter.
The company recognized $96 million in pre-tax expenses associated with the acquisitions of Foundation Building Materials (FBM) and Artisan Design Group (ADG). Excluding these expenses, second quarter 2026 adjusted diluted EPS increased 1.6% to $4.40 compared to the prior-year adjusted diluted EPS. Both diluted EPS and adjusted diluted EPS include a $0.11 benefit from IEEPA tariff refunds.
Lowe’s experienced a 15.7% rise in online sales, but noted that macroeconomic pressures partially offset this growth among do-it-yourself customers.
Though the company did not cut its full-year guidance, it updated its outlook to the bottom end of its prior guidance. It now expects total sales of $92 billion, compared to $92 billion to $94 billion previously, and comparable sales to be flat, versus flat to up 2%. It expects adjusted earnings per share for the year of $12.25, versus $12.25 to $12.75 previously.
“Sustained growth in Pro, Online and Home Services led to our fifth consecutive quarter of positive comp sales, despite pressure in discretionary DIY spending,” said Marvin R. Ellison, Lowe’s chairman, president and CEO. “While the near-term remains dynamic, our teams are executing at a high level, advancing our Total Home strategy and investing to drive growth and profitability. I would like to thank all of our frontline associates for their hard work and dedication to our customers.”
Lowe’s shares fell 2% in premarket trading following the announcement.
By CEO NA Editorial Staff
