Lowe’s reported second-quarter net earnings of $2.4 billion, with diluted earnings per share unchanged at $4.27 from a year earlier. Adjusted diluted EPS rose 1.6% to $4.40 from the prior-year adjusted figure.
Total sales climbed to $26.0 billion from $24.0 billion in the same quarter last year, an increase of $2.0 billion, or about 8.3%.
Comparable sales increased 0.2%, marking the company’s fifth straight quarter of positive comps. The quarter’s growth was driven by stronger pro, online and home services business, while DIY demand remained weak. Online sales rose 15.7%.
Lowe’s said it recognized $96 million in pre-tax expenses tied to the acquisitions of Foundation Building Materials and Artisan Design Group during the quarter. Both diluted EPS and adjusted diluted EPS included an $0.11 benefit from tariff refunds.
The company ended the quarter with 1,761 stores and 196.0 million square feet of retail selling space. It paid $673 million in dividends during the quarter.
For fiscal 2026, Lowe’s cut the top end of its sales outlook to $92.0 billion from a prior range of $92.0 billion to $94.0 billion. It now expects comparable sales to be flat, down from a prior forecast of flat to up 2%.
The company kept its operating margin outlook at 11.2%, but narrowed its adjusted operating margin forecast to 11.6% from a prior range of 11.6% to 11.8%.
Lowe’s also held its full-year diluted EPS outlook at about $11.75, while trimming its adjusted diluted EPS forecast to about $12.25 from a prior range of $12.25 to $12.75. Capital expenditures are expected to be up to $2.5 billion. The market has reacted to these announcements by moving the company's shares 4.16% to a price of $224.62. Check out the company's full 8-K submission here.
