Lowe’s posted a solid performance for the second quarter ending July 31, 2026, with total sales increasing to $26bn compared to $24bn in the year prior.
The home improvement retailer reported net earnings of $2.4bn and diluted earnings per share (EPS) of $4.27, which remained unchanged year-on-year.
Over the second quarter ending July 31, 2026, the business recorded $96m in pre-tax expenses, which were associated with the acquisitions of Foundation Building Materials (FBM) and Artisan Design Group (ADG).
Excluding the impact of the acquisitions, Lowe’s second quarter 2026 adjusted diluted EPS went up by 1.6 per cent to $4.40 compared to the adjusted diluted EPS in the same time last year.
The total diluted and adjusted EPS were positively impacted by an $0.11 benefit from tariff refunds. The comparable sales during the quarter grew by 0.2 per cent due to a strong performance in professional and home service sales as well as a 15.7 per cent growth in online sales.
Marvin R. Ellison, Lowe’s chairman, president, and CEO said: “Sustained growth in Pro, Online, and Home Services led to our fifth consecutive quarter of positive comp sales, despite pressure in discretionary DIY spending.
“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.”
Despite the sales growth, the company adjusted its future outlook to the lower end of the guidance, citing volatility within the current demand trends.
Lowe’s expects full-year 2026 sales of $92bn, lower than the previous range of $92bn to $94bn. The home retailer forecasted that comparable sales will be flat year-on-year (previously flat to a 2 per cent increase).
Lowe’s also estimated that full-year diluted EPS will be $11.75 compared to the prior range of between $11.75 and $12.25.
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