Lowe's Trims Annual Outlook as DIY Demand Remains Sluggish

For the quarter ending July 31, 2026, total sales reached $26 billion, up from $24 billion during the same period last year. Comparable sales saw a modest rise of 0.2%, marking a fifth consecutive quarter of growth. This performance was bolstered by a 15.7% surge in online sales and sustained interest in home services and professional-grade products, which helped buffer the decline in discretionary DIY projects.

Chairman and CEO Marvin R. Ellison noted that the company continues to navigate a dynamic environment by leaning into its 'Total Home' strategy. However, the broader economic climate has prompted a recalibration of expectations for the remainder of the fiscal year. Lowe's now projects flat comparable sales for 2026, down from previous estimates of up to 2% growth. Adjusted diluted earnings per share are now expected to reach approximately $12.25, reflecting a downward revision from the prior forecast of $12.25 to $12.75.