Lowe's Q2 Earnings Miss, Analysts Adjust Forecasts

Lowe's Companies reported mixed second-quarter 2026 results on Wednesday and lowered its full-year outlook below Wall Street expectations.

Adjusted earnings per share rose 1.6% to $4.40, up from $4.33 a year earlier, beating analyst estimates of $4.22. Net sales rose 8.3% to $25.96 billion, up from $23.96 billion a year earlier, but missed expectations of $26.16 billion.

Lowe's lowered its fiscal 2026 sales guidance to approximately $92 billion, from a prior range of $92 billion to $94 billion, missing analyst expectations of $93.35 billion.

The company now expects adjusted earnings per share of approximately $12.25, below its prior range of $12.25 to $12.75, and missing expectations of $12.88. Lowe's expects GAAP earnings per share of approximately $11.75, flat comparable sales, an operating margin of approximately 11.2%, and an adjusted operating margin of approximately 11.6%.

"Continued growth in our Pro customer, online, and home services businesses drove our fifth consecutive quarter of positive comparable sales, despite pressure on DIY discretionary spending," said Marvin R. Ellison, Lowe's chairman, president, and CEO. "While the near-term environment remains uncertain, our team is executing well, advancing our Total Home strategy, and investing to drive growth and profitability. I want to thank all of our frontline associates for their hard work and dedication to serving our customers."

Lowe's shares fell 0.4% on Thursday, trading at $219.96.

The following analysts adjusted their price targets on Lowe's following the earnings release.

Mizuho analyst David Bellinger maintained an Outperform rating on the stock, lowering the price target from $280 to $250.

KeyBanc analyst Bradley B. Thomas reiterated an Overweight rating on the stock, maintaining a $275 price target.

RBC Capital analyst Steven Shemesh reiterated a Sector Perform rating on the stock, maintaining a $231 price target.

TD Cowen analyst Max Rakhlenko reiterated a Hold rating on the stock, maintaining a $235 price target.

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