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Lowe's Cuts 2026 Forecast Amid DIY Spending Slump
19 Aug
Summary
- Lowe's reduced its 2026 outlook due to lower-than-expected second-quarter revenue.
- Discretionary do-it-yourself spending continues to impact the home improvement retailer's results.
- The company now projects full-year sales at $92 billion, the lower end of its previous guidance.
Lowe's announced a reduced outlook for the full year 2026, following second-quarter revenue that did not meet expectations. The decline is attributed to ongoing macroeconomic headwinds affecting do-it-yourself consumers. The company has revised its total sales projection to $92 billion, marking the lower end of its prior guidance. Comparable-store sales are now forecast to remain flat.
During the second quarter, net income was stable year-over-year, with adjusted earnings per share seeing a slight increase. Significant growth in online sales and professional services provided some uplift. However, this was insufficient to offset the pressures on DIY spending. The revised forecast aligns with broader challenges observed across the home improvement sector, as indicated by a rival's recent earnings report.
Despite the near-term dynamic environment, Lowe's leadership expressed confidence in their team's execution and strategic investments aimed at driving future growth and profitability. The company continues to operate a substantial network of stores, focusing on its Total Home strategy.
