Lowe's has narrowed its full-year 2026 (FY26) guidance, converting several previously ranged forecasts into single-point figures, as the US home improvement retailer cited softer DIY demand.
The company now expects total sales of $92bn, down from a prior guided range of $92bn to $94bn, effectively withdrawing the upper end of its earlier forecast.
Comparable sales are now expected to be flat versus the prior year, narrowed from a previous range of flat to up 2%.
Diluted earnings per share (EPS) guidance narrowed to approximately $11.75, from a prior range of $11.75 to $12.25.
The company said the revised outlook incorporates tariff refunds recognised in the second quarter but excludes any potential additional refunds in the second half of the year.
The guidance revision accompanied second quarter results in which Lowe's reported net sales of $25.95bn for the quarter ended 31 July 2026, up from $23.95bn a year earlier.
Comparable sales rose 0.2% in the quarter, which the company attributed to strong Pro and home services performance and a 15.7% increase in online sales, partially offset by continued softness in DIY demand.
Gross margin increased to $8.57bn from $8.10bn, and operating income rose to $3.54bn from $3.46bn.
Net earnings were $2.39bn, nearly flat against the prior-year period.
Diluted EPS held steady at $4.27, matching the prior-year quarter, while basic EPS was $4.28, also unchanged year-on-year.
Adjusted diluted EPS, which excludes $96m in pre-tax expenses tied to the acquisitions of Foundation Building Materials and Artisan Design Group, rose 1.6% to $4.40.
For the six months ended 31 July 2026, net sales totalled $49.03bn, up from $44.88bn in the comparable prior-year period.
Net earnings for the half were $4.02bn, against $4.03bn a year earlier, with diluted EPS of $7.17 compared with $7.19.
Lowe's chairman, president and CEO Marvin R Ellison said: “Sustained growth in Pro, Online and Home Services led to our fifth consecutive quarter of positive comp sales, despite pressure in discretionary DIY spending.
“While the near-term remains dynamic, our teams are executing at a high level, advancing our Total Home strategy and investing to drive growth and profitability.”
