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Lowe’s Cuts Outlook as DIY Spending Remains Pressured
The retailer reported mixed quarterly results and said higher mortgage rates and a sluggish housing market are curbing demand for big projects.
- On Wednesday, home-improvement retailer Lowe's lowered its full-year sales outlook, now expecting flat comparable sales after previously forecasting growth of up to 2%.
- High mortgage rates and limited housing turnover have reduced demand for big-ticket renovation projects, as consumers remain cautious on expensive home-improvement spending amid inflation concerns.
- While rival Home Depot beat quarterly sales estimates on Tuesday, Lowe's reported second-quarter revenue of $25.96 billion, missing analyst expectations of $26.16 billion.
- CEO Marvin Ellison said the company faces "pressure" in discretionary DIY spending but emphasized teams are executing the "Total Home" strategy to drive growth.
- Lowe's now forecasts fiscal 2026 adjusted earnings of $12.25 per share and total sales of $92 billion, positioning the retailer at the lower end of its previous guidance range.
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Lowe’s gives muted outlook as it sees ‘pressure’ in home improvement spending
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Coverage Details
Total News Sources10
Leaning Left1Leaning Right2Center5Last UpdatedBias Distribution62% Center
Bias Distribution
- 62% of the sources are Center
62% Center
13%
C 62%
R 25%
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