Lowe's Reports Mixed Results, Updates Outlook Amid Home Improvement Spending Pressure
Lowe's reported mixed financial results for its second fiscal quarter, with an updated full-year outlook reflecting ongoing pressure on home improvement spending. The company adjusted its guidance to the low end of previous estimates, now expecting total sales of $92 billion and flat comparable sales. Adjusted earnings per share are projected at $12.25 compared to a prior range of $12.25–$12.75. Tariff refunds contributed an 11-cent boost to Q2 EPS. Lowe's reported net income of $2.4 billion, or $4.27 per share, with adjusted earnings at $4.40 per share—slightly above expectations in some areas but below revenue forecasts. Online sales rose by 15.7%, though macroeconomic pressures dampened DIY customer activity. CEO Marvin Ellison emphasized continued execution of the Total Home strategy despite a slower housing market and cautious consumer behavior. The report comes amid broader industry challenges, with rival Home Depot also noting subdued demand for large home projects.
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