Lowe's Cuts Full-Year Earnings Outlook Amid Weak DIY Spending
Lowe's has revised its full-year earnings outlook for 2026 following weaker-than-expected second-quarter results, driven by a slowdown in discretionary do-it-yourself (DIY) spending. The home improvement retailer now anticipates total sales of $92 billion—matching the lower end of its previous guidance—and flat comparable-store sales growth compared to earlier projections that allowed for up to 2% increases. For Q2, Lowe's reported net income of $2.4 billion and adjusted earnings per share (EPS) of $4.40, a modest increase from last year. Total revenue rose to $25.96 billion but still fell short of analyst expectations of $26.16 billion. The company cited ongoing macroeconomic challenges affecting DIY customers as the primary drag on performance. Lowe's CEO Marvin Ellison noted that growth in professional services, online sales, and home services helped offset some weakness. However, broader industry pressures are evident, with rival Home Depot also reporting sluggish consumer engagement in major renovation projects.
Topics: DIY_spending earnings home_improvement retail