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Yahoo Finance

Lowe’s trims 2026 sales outlook to $92 billion as CEO cites pressure on DIY spending

AI Market Summary
Lowe's posted a modest earnings beat, aided by IEEPA tariff refunds, but revenue and comparable sales slightly missed expectations. Management cut FY2026 sales guidance to $92B and guided comps to flat, citing elevated mortgage rates constraining housing activity and pressuring DIY discretionary spend. The update reinforces a "frozen" housing backdrop and could weigh on near-term sentiment across home-improvement retail despite cost and refund tailwinds.
Impact level
● Medium
Affected assets
NCSKOWL2USD/USDT-0.09%
AI Insight · NCSKOWL2USD/USDTAI Insight
● Neutral
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Lowe’s reported second-quarter revenue of $26 billion, slightly below the $26.1 billion the Street expected, while comparable sales rose 0.2%. The retailer lowered its 2026 sales forecast to $92 billion as higher mortgage rates continue to weigh on the housing market and DIY demand. Adjusted earnings per share came in at $4.27 versus expectations of $4.22, helped in part by tariff refunds, according to Bloomberg estimates.
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