Second quarter results from Home Depot and Lowe's offer perhaps the clearest evidence yet of how a prolonged period of elevated mortgage rates is changing where money flows inside the roughly $1 trillion U.S. home-improvement economy. Homeowners who are reluctant to move are also reluctant to finance expensive renovations.
Lowe's Companies Inc (NYSE:LOW) trimmed its full-year sales and profit forecasts after discretionary home-improvement spending remained under pressure, even as the retailer topped Wall Street estimates for the second quarter. The company now expects fiscal 2026 revenue of $92 billion, down from its earlier range of $92 billion to $94 billion.
Lowe's lowered its expectations for 2026 as persistent softness in DIY spending is expected to continue to weigh on sales and earnings for the rest of the year.
Lowe's reported mixed results as the retailer said it continued to see pressure in home improvement spending. The company updated its full-year guidance to the low end of its previously provided range.
— Diluted EPS of $4.27; Adjusted Diluted EPS 1 of $4.40 — — Comparable Sales Increased 0.2% — — Updates Full Year 2026 Outlook — MOORESVILLE, N.C., Aug. 19, 2026 /PRNewswire/ -- Lowe's Companies, Inc. (NYSE: LOW) today reported net earnings of $2.4 billion and diluted earnings per share (EPS) of $4.27 for the quarter ended July 31, 2026, compared to diluted EPS of $4.27 in the second quarter of...
Lowe's stock has struggled amid a difficult housing market, but second-quarter earnings could give the shares a much-needed boost.
Home Depot and Lowe's are set to report earnings on Tuesday and Wednesday morning, respectively, with traders anticipating sizable moves from the home-improvement retailers' stocks.