Lowe’s sits in Rivkin’s US Growth Portfolio. The company reported second quarter results before the US open on 19 August, covering the three months to 31 July 2026, with the numbers reaching Australian screens overnight into Thursday 20 August.
Total sales came in at $25.96 billion, up 8.4 percent on the $24.0 billion of a year earlier, though that fell about 0.7 percent short of the $26.16 billion analysts had pencilled in. Most of the growth came from acquisition rather than the existing store base: comparable sales rose 0.2 percent, the fifth straight quarter in positive territory. Online sales grew 15.7 percent and the Pro and home services businesses carried the quarter, while discretionary DIY spending stayed soft.
Earnings did the opposite of revenue. Adjusted diluted EPS of $4.40 beat the $4.22 consensus by roughly 4 percent and edged past last year’s $4.33. On a GAAP basis, diluted EPS was $4.27, flat year on year.
| Metric | Actual | Comparison |
| Adjusted diluted EPS | $4.40 | Consensus $4.22 |
| Revenue | $25.96bn | Consensus $26.16bn |
| Comparable sales | +0.2% | Fifth consecutive positive quarter |
| GAAP diluted EPS | $4.27 | $4.27 a year ago |
Management narrowed full year 2026 guidance to the bottom of the prior ranges. Total sales are now guided to $92.0 billion, down from $92 to $94 billion. Comparable sales are expected flat for the year, trimmed from a flat to plus 2 percent range. Adjusted diluted EPS guidance sits at roughly $12.25, the low end of the previous $12.25 to $12.75 band, with GAAP EPS around $11.75. Operating margin is guided to 11.2 percent, 11.6 percent adjusted, with capital expenditure of up to $2.5 billion and an effective tax rate near 24.5 percent.
Chairman, President and Chief Executive Marvin Ellison framed the quarter around the professional customer: “Sustained growth in Pro, Online and Home Services led to our fifth consecutive quarter of positive comp sales, despite pressure in discretionary DIY spending.”
The market took the earnings beat over the guidance trim. Shares rose 2.02 percent on the session to close at $220.00, then gave back 1.21 percent the following day to $217.34. The stock has fallen about 10.6 percent year to date against a 12.4 percent gain for the S&P 500.
