Pro, online sales drive Lowe’s Q2 revenue increase
Lowe’s Companies Inc. beat Wall Street estimates for profit, but missed on sales in the second quarter of fiscal 2026.
The home improvement giant reported net earnings of $2.4 billion and diluted earnings per share (EPS) of $4.40 for the quarter ended July 31, 2026. Total sales for the quarter were $26 billion, up 8% from $24 billion in the prior-year quarter.
Adjusted EPS topped analyst estimates of $4.22 while total sales missed expectations of $26.2 billion. The adjusted EPS figure excluded $96 million in pre-tax expenses associated with Lowe’s acquisitions of Foundation Building Materials (FBM) and Artisan Design Group (ADG).
[READ MORE: Lowe’s completes $1.32 billion purchase of home pro service provider]
Comparable sales for the quarter increased 0.2%, which said was driven by strong performance in Pro and home services sales, as well as a 15.7% increase in online sales, partially offset by what it said were "persistent DIY macro pressures."
Lowe’s adjusts guidance
The company is updating its outlook for fiscal year 2026 to reflect operational results for the first half of the year as well as what is says are current demand trends:
- Total sales of $92 billion (previously $92 to 94 billion).
- Comparable sales expected to be flat as compared to prior year (previously flat to up 2%).
- Diluted earnings per share of approximately $11.75 (previously $11.75 to $12.25).
- Adjusted diluted earnings per share of approximately $12.25 (previously $12.25 to $12.75).
- Capital expenditures of up to $2.5 billion.
Lowe’s fiscal year 2026 outlook also includes tariff refunds recognized during the second quarter and excludes any potential additional tariff refunds in the second half of the year.
[READ MORE: Tariff refund portal opens; some retailers may be due billions]
"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."
Based in Mooresville, N.C., Lowe's employs approximately 300,000 associates and operates over 1,750 home improvement stores, 540 branches and 120 distribution centers.
