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Lowe's shares fall after cautious outlook points to pressure in DIY
Lowe's second-quarter revenue was $26.0 billion, slightly under expectations, and its same-store sales rose just 0.2% while it moved full-year guidance to the low end.
Lowe's stock fell in premarket trading after the retailer issued a more cautious outlook, pointing to ongoing pressure in do-it-yourself consumer spending. The company said sustained growth in Pro, Online and Home Services helped drive its fifth straight quarter of positive comp sales, even as discretionary DIY demand remained weak.
In the second quarter, Lowe's revenue came in at $26.0 billion, just below the $26.1 billion expected by analysts tracked by Bloomberg estimates. Adjusted earnings per share were $4.27, including a $0.11 benefit from IEEPA tariff refunds, ahead of the $4.22 Street forecast.
Lowe's same-store sales rose 0.2%, below the 0.7% expected, with results boosted by home services, the pro business, and online transactions but partially offset by persistent DIY macro pressures. The retailer said the DIY customer represented roughly 60% to 65% of its revenue as of the first quarter.
Against a tough housing backdrop that it said affects DIY customers, Lowe's noted that 30-year fixed mortgage rates remain around 6.7% and described housing conditions as staying frozen. The company updated 2026 expectations, guiding for total sales of about $92 billion and comparable sales to be flat, while targeting adjusted diluted earnings per share of approximately $12.25 at the low end of its prior range.