NORTH WILKESBORO (dpa-AFX) - Lowe's Companies (LOW) said it is updating outlook for fiscal 2026 to reflect operational results for the first half of the year as well as current demand trends. The company now projects diluted earnings per share to be approximately $11.75, revised from prior guidance of $11.75 to $12.25. Adjusted diluted earnings per share is projected to be approximately $12.25, revised from prior guidance range of $12.25 to $12.75. Total sales are projected to be $92.0 billion, revised from prior outlook of $92.0 to $94.0 billion. Comparable sales are expected to be flat as compared to prior year. Previously, the company projected comparable sales to be flat to up 2%. The company noted that its fiscal 2026 outlook also includes tariff refunds recognized during the second quarter and excludes any potential additional tariff refunds in the second half of the year. The company said it remains committed to generating sustainable shareholder value through a disciplined focus on its capital allocation program.
Lowe's reported net earnings of $2.4 billion and diluted earnings per share of $4.27 for the second quarter compared to $2.4 billion and diluted EPS of $4.27 in the second quarter of 2025. Excluding items, second quarter adjusted diluted EPS increased 1.6% to $4.40 compared to prior-year. The company noted that both diluted EPS and adjusted diluted EPS included an $0.11 benefit from IEEPA tariff refunds.
Second quarter total sales were $26.0 billion, compared to $24.0 billion in the prior-year quarter. Comparable sales for the quarter increased 0.2%, driven by strong performance in Pro and home services sales, as well as a 15.7% increase in online sales, partially offset by persistent DIY macro pressures.
In pre-market trading on NYSE, Lowe's shares are down 2.67 percent to $210.00.
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