Lowe's Trims 2026 Outlook, 2Q Profit Flat, Sales Rise

By Adriano Marchese

Lowe's lowered its expectations for 2026 as persistent softness in DIY spending is expected to continue to weigh on sales and earnings for the rest of the year.

The home-improvement retailer on Wednesday lowered its expectations for the year. Revenue is now expected at $92 billion, at the lower end of its previous range of between $92 billion and $94 billion, and below analyst forecasts of $92.94 billion.

Comparable sales expectations were also trimmed, now expected at flat, compared with its previous range of between flat and up 2%.

Earnings per share are now expected at $11.75, down from a range of $11.75 and $12.25 a share, with adjusted earnings per share of $12.25, compared with its previous range of $12.25 to $12.75.

Analysts expect adjusted earnings per share of $12.43.

For its second-quarter, Lowe's posted net income $2.4 billion, or $4.27 a share, unchanged from the same quarter a year ago.

Adjusted earnings were $4.40 a share. According to FactSet, analysts were expecting $4.22 a share.

Net sales rose to $25.96 billion from $23.96 billion, but came in shy of analyst forecasts of a rise to $26.13 billion.

Comparable sales for the quarter increased 0.2%, driven by the Lowe's Pro and home services sales, as well as a nearly-16% increase in online sales, partially offset by persistent do-it-yourself macro pressures.

"Sustained growth in Pro, Online and Home Services led to our fifth consecutive quarter of positive comp sales, despite pressure in discretionary DIY spending," Chairman and Chief Executive Marvin Ellison said.

Write to Adriano Marchese at adriano.marchese@wsj.com

(END) Dow Jones Newswires

August 19, 2026 06:42 ET (10:42 GMT)