Lowe’s reported second-quarter 2026 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, after $96 million in pre-tax expenses tied to the Foundation Building Materials and Artisan Design Group acquisitions. Both EPS measures included an $0.11 benefit from tariff refunds.
Sales climbed to $26.0 billion from $24.0 billion in the second quarter of 2025, an increase of $2.0 billion, or about 8.3%. Comparable sales rose 0.2%, reversing from the prior-year period, helped by pro, home services and online demand. Online sales increased 15.7%.
The company said its fifth straight quarter of positive comparable sales came despite continued pressure in discretionary DIY spending.
Lowe’s ended the quarter with 1,761 stores and 196.0 million square feet of retail selling space. During the quarter, it paid $673 million in dividends.
For fiscal 2026, Lowe’s narrowed 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, versus prior guidance for flat to up 2%.
The company held its operating margin outlook at 11.2%, but trimmed the top end of its prior range of 11.2% to 11.4%. Adjusted operating margin remains forecast at 11.6%, versus a prior range of 11.6% to 11.8%.
Lowe’s left diluted EPS guidance at about $11.75, below the midpoint of its prior $11.75 to $12.25 range, and set adjusted diluted EPS at about $12.25, down from a prior range of $12.25 to $12.75. It kept capital expenditures at up to $2.5 billion and net interest expense at about $1.6 billion, with an effective tax rate of about 24.5%. Following these announcements, the company's shares moved 2.64%, and are now trading at a price of $221.335. If you want to know more, read the company's complete 8-K report here.
