Lowe's reported second-quarter fiscal 2026 adjusted earnings of $4.40 per share, up 1.6% year over year and ahead of the Zacks Consensus Estimate of $4.22, while revenues rose 8.3% to $25,956 million and missed the consensus estimate of $26,135 million. The quarter included a benefit of 11 cents per share from tariff refunds, and reported earnings were $4.27 per share, unchanged from the year-ago quarter, with $96 million in pre-tax expenses tied to intangible asset amortization from the Artisan Design Group and Foundation Building Materials acquisitions. Comparable sales increased 0.2% year over year, the fifth consecutive quarter of positive comps, supported by Pro and home services and a 15.7% increase in online sales, while persistent DIY macro pressure tempered demand. Lowe's lowered its fiscal 2026 outlook to the lower end of its previously issued ranges, now expecting total sales of $92 billion versus the prior $92-$94 billion range, flat comparable sales versus the previous expectation of flat to up 2%, an operating margin of 11.2% versus the earlier 11.2-11.4% range, and earnings of about $11.75 per share versus the prior $11.75 to $12.25 per share range. The revision reflects first-half operating results and current demand trends, and the outlook includes tariff refunds recognized in the second quarter but excludes potential additional tariff refunds in the second half.
Lowe's Companies IncLowe's lowered its fiscal 2026 outlook to the lower end of prior ranges on soft demand trends, despite a Q2 earnings beat.
Somnigroup International Inc.