Lowe's trims guidance as DIY weakness weighs on Q2 performance

(Sharecast News) - Retailer Lowe's traded lower in pre‑market action on Wednesday after the firm struck a more cautious tone on its outlook, pointing to ongoing "pressure" in DIY consumer spending. Lowe's said second‑quarter revenues came in at $26bn, just shy of the $26.1bn expected, while adjusted earnings per share of $4.27, which included an $0.11 tariff‑refund benefit, came in ahead forecasts.

Same‑store sales rose 0.2%, below the 0.7% consensus, with strength in home services, Pro customers and online partly offset by weaker DIY demand. DIY shoppers make up roughly 60% to 65% of Lowe's revenue.

As a result, Lowe's trimmed its full-year guidance to the lower end of its prior ranges, with the group now expecting $92bn in full‑year sales, down from $92bn to 94bn previously, with comparable sales set to be flat rather than up as much as 2%. Adjusted diluted EPS were projected to come in at around $12.25 - the bottom of its earlier $12.25 to $12.75 range.

As of 1420 BST, Lowe's shares were up 0.87% in pre-market trading at $153.80 each.







Reporting by Iain Gilbert at Sharecast.com