Lowe's Reports Mixed Q2 Fiscal 2026 Results, Lowers Full-Year Outlook to Low End
Lowe's reported mixed second-quarter fiscal 2026 results, with net income of $2.4 billion and adjusted EPS of $4.40, including an 11-cent benefit from tariff refunds. Sales rose to $25.96 billion, with comparable sales up 0.2% and online sales up 15.7%. The company lowered its full-year outlook to the low end of its prior range, citing pressure on home improvement spending. Shares fell about 2% in premarket trading. CEO Marvin Ellison said the team executed well, while rival Home Depot noted the market remains "frozen."
Lowe's reported second-quarter fiscal 2026 results on Wednesday and updated its full-year outlook. The company said it saw pressure on project spending but did not cut its full-year guidance; instead, it adjusted its outlook to the low end of its previous range. Shares fell about 2% in premarket trading following the release.
Net income was $2.4 billion, or $4.27 per share, roughly flat with the year-ago period. Excluding one-time items and including a benefit from tariff refunds, adjusted earnings per share were $4.40, with tariff refunds contributing 11 cents to EPS.
Total quarterly sales were $25.96 billion, up from $23.96 billion a year earlier. Comparable sales rose 0.2%, partly helped by strong performance from professional customers and home services. Online sales grew 15.7%, but the company said spending by DIY customers was partially offset by macroeconomic pressures. Chief Executive Officer Marvin Ellison said in a statement that the team executed well and is advancing the company's strategy.
Lowe's results come as home improvement retailers face a slowing housing market and cautious consumer spending. Rival Home Depot, which reported on Tuesday, said customers have not returned to large projects and the market remains "frozen."
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The event has a measured impact on 1 industry. The strongest current signal is negative for Physical Retail, with intensity 50/100 and 70% confidence over a short term horizon.
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