Lowe's (LOW) Earnings: Q2 Fiscal 2026 Results and Next Report Date

The quarter ended July 31, 2026 and Lowe's published the results on August 19, 2026. Revenue and diluted EPS are shown against Q2 fiscal 2025, the same quarter a year earlier, which takes seasonal swings out of the comparison. Lowe's reports EPS two ways: GAAP, under the accounting rules every US filer follows, and adjusted, which leaves out items the company considers outside its operating results. The release reconciles the two, and when they diverge, the reconciliation says why.

• Lowe's fiscal 2026 ends in late January 2027, so Q2 fiscal 2026 is the quarter ended July 31, 2026.
• The Other segment holds Foundation Building Materials (acquired October 9, 2025) and Artisan Design Group (acquired in 2025), which Lowe's consolidates on a one-month lag. Lowe's reclassified prior-period merchandise division sales to the current presentation.
• GAAP and adjusted EPS both include a $0.11 benefit from IEEPA tariff refunds.

Source: Lowe's Q2 fiscal 2026 results, August 19, 2026. Also in the Form 10-Q for the quarter ended July 31, 2026. Figures as reported; checked against the release on November 10, 2026.

How Lowe's splits revenue in its own release, under its own labels, for Q2 fiscal 2026 against Q2 fiscal 2025. Indented lines are parts of the line above them.

• Lowe's's Retail Home Improvement revenue was $24.0 billion in Q2 fiscal 2026, up 1% from $23.8 billion in Q2 fiscal 2025, 93% of total revenue.
• Lowe's's Other segment revenue was $1.9 billion in Q2 fiscal 2026, up 1307% from $138 million in Q2 fiscal 2025, 7% of total revenue.

Segment lines are the figures writers cite most often, because they show where the growth in a quarter came from. Companies redraw their segments from time to time and restate the prior year to match, so a year-ago figure here can differ from the one printed a year ago. When that has happened, the note above says so.

From the earnings release

In its Q2 fiscal 2026 release, Lowe's said:

“Fiscal year 2026 outlook also includes tariff refunds recognized during the second quarter and excludes any potential additional tariff refunds in the second half of the year.”

“Total sales of $92.0 billion (previously $92.0 to 94.0 billion)”

“Comparable sales expected to be flat as compared to prior year (previously flat to up 2%)”

“Diluted earnings per share of approximately $11.75 (previously $11.75 to $12.25)”

Source: Lowe's Q2 fiscal 2026 release, Aug 19, 2026.

This is the company's own guidance as of Aug 19, 2026, quoted as given. Walnut does not make forecasts of its own. Analyst estimates for the coming quarters are on the LOW forecast page.

Revenue and diluted EPS for the last 5 quarters. Each date links to that quarter's release.

GAAP net sales and diluted EPS, each as first reported in that quarter's release. Lowe's reports the fourth quarter in its own release, so no quarter here is derived. Sales from Q3 fiscal 2025 on include Foundation Building Materials.

Lowe's's next report is scheduled for November 18, 2026. This page will show Q2 fiscal 2026 until those results are out and have been checked against the release.

Each quarter keeps its own page with the figures as reported, so a link to one stays pointed at the same numbers after the next report.

• Q2 fiscal 2026 (this page), reported Aug 19, 2026

Lowe's had net sales of $25,956 million in Q2 fiscal 2026, up 8.3% from $23,959 million. Its Retail Home Improvement segment, the stores and online business, brought in $24,015 million, split almost evenly across three merchandise divisions: Hardlines $7,952 million, Home Décor $7,817 million and Building Products $7,554 million. The Other segment, $1,941 million against $138 million a year earlier, accounts for most of the growth. (Lowe's Form 10-Q, Q2 fiscal 2026, Aug 27, 2026)

The Other segment is the businesses Lowe's bought in 2025 to serve larger Pro customers. Foundation Building Materials, acquired on October 9, 2025 for $8.8 billion in cash, and Artisan Design Group are consolidated on a one-month lag. Lowe's describes over 540 branch locations that serve larger Pro customers and specialize in delivering and installing building materials. (Lowe's Form 10-Q, Q2 fiscal 2026, Aug 27, 2026; Lowe's Form 10-K, fiscal 2025, Mar 23, 2026)

Comparable sales rose 0.2%, made up of a 2.3% increase in comparable average ticket and a 2.1% decline in comparable customer transactions. Customer transactions were 219 million, against 225 million a year earlier, and the average ticket was $107.90, against $105.49. Nine of Lowe's 13 product categories had positive comparable sales, led by Rough Plumbing, Electrical, and Tools & Hardware, which Lowe's tied to its Pro customer and online channels and to repair and maintenance projects. (Lowe's Form 10-Q, Q2 fiscal 2026, Aug 27, 2026)

Online sales grew 15.7% and added approximately 195 basis points to comparable sales, against 85 basis points in Q2 fiscal 2025. Lowe's said Pro and home services sales were strong while DIY demand stayed under persistent macro pressure. Almost all sales are in the United States: $25,883 million, with $73 million from Canada. (Lowe's Q2 fiscal 2026 release, Aug 19, 2026; Lowe's Form 10-Q, Q2 fiscal 2026, Aug 27, 2026)

Lowe's operated 1,761 stores at July 31, 2026, with 196.0 million square feet of retail selling space. Gross margin was 33.04% of sales, against 33.81%, a decline Lowe's attributed to the operational cost structure of the 2025 acquisitions and higher fuel costs, partly offset by credit revenue and tariff refunds. (Lowe's Q2 fiscal 2026 release, Aug 19, 2026; Lowe's Form 10-Q, Q2 fiscal 2026, Aug 27, 2026)

Lowe's reported diluted EPS of $4.27 in Q2 fiscal 2026, the same as a year earlier, and adjusted diluted EPS of $4.40, against $4.33. The only adjustment is acquisition-related: $96 million of pre-tax intangible asset amortization for Foundation Building Materials and Artisan Design Group, worth $0.17 a share before tax and $0.13 after. Both EPS figures include a $0.11 benefit from IEEPA tariff refunds. (Lowe's Q2 fiscal 2026 release, Aug 19, 2026)

Net earnings were $2,399 million, against $2,398 million. Operating margin fell to 13.67% of sales from 14.48%, and net interest expense rose to $374 million from $313 million, which Lowe's attributed to the September 2025 debt issuance and the 2025 Term Loan. The effective tax rate was 24.4%, against 24.0%. (Lowe's Q2 fiscal 2026 release, Aug 19, 2026; Lowe's Form 10-Q, Q2 fiscal 2026, Aug 27, 2026)

Diluted weighted average shares were 560 million in both quarters. Lowe's repurchased 1.5 million shares for $366 million in the first six months of fiscal 2026, had $10.5 billion left under its repurchase program at July 31, 2026, and paid $673 million in dividends in the quarter. (Lowe's Q2 fiscal 2026 release, Aug 19, 2026; Lowe's Form 10-Q, Q2 fiscal 2026, Aug 27, 2026)

Diluted EPS divides net income by the weighted average number of shares outstanding in the quarter, plus the shares that options and other equity awards could add. Buybacks shrink that count and lift EPS for the same profit; share issuance and stock awards enlarge it.

Lowe's gives a full-year outlook in its release, not a quarterly one. With Q2 fiscal 2026 results it narrowed fiscal 2026 to total sales of $92.0 billion (previously $92.0 to 94.0 billion), comparable sales flat (previously flat to up 2%), diluted EPS of approximately $11.75 and adjusted diluted EPS of approximately $12.25 (previously $12.25 to $12.75). (Lowe's Q2 fiscal 2026 release, Aug 19, 2026)

The outlook includes the tariff refunds recognized in the second quarter and excludes any further refunds in the second half. It also assumes an operating margin of 11.2%, net interest expense of approximately $1.6 billion, an effective tax rate of approximately 24.5% and capital expenditures of up to $2.5 billion. The adjusted figures exclude an expected 40 basis points of margin and $0.50 a share after tax from intangible asset amortization. (Lowe's Q2 fiscal 2026 release, Aug 19, 2026)

A consensus figure is the average of the models published by the analysts who cover Lowe's, collected by a data provider and revised up to the day of the report. A quarter that lands above it says how expectations were set as much as how the business did, and the share price on the day also reflects the guidance and the lines no consensus covers.

The consensus figures on this page are Yahoo Finance's, as pulled on the date shown. Each comes with the number of analysts behind it; the smaller that number, the more one revised estimate can move the average.

The figures below are the ones Lowe's's own release and filings put weight on for Q2 fiscal 2026, with the latest reported value for each.

What the quarter means for a holding is a separate question from what it reported. The case for and against owning LOW is on is LOW a buy or a sell?, what analysts expect next is on the LOW forecast, and what the company does is on the Lowe's (LOW) stock page.

Every number on this page can be traced to a document Lowe's published. Checking one takes a couple of minutes, and it is worth doing before you quote a figure anywhere.

• The results release is the document linked in the source line above. Companies publish it on their investor relations site at the moment results go out, and it carries the headline tables: revenue, operating income, net income and EPS for the quarter and the year-ago quarter.
• The same release is filed with the SEC as Exhibit 99.1 to a Form 8-K under Item 2.02, usually on the day of the report. The SEC copy does not change after the fact, which makes it the safer thing to link when you cite a number.
• The quarterly report (Form 10-Q) follows within a few weeks and carries the full financial statements, the segment note and management's discussion of what changed. The fourth quarter is covered by the annual report (Form 10-K) instead.
• Restated comparisons are flagged in the notes on this page. When a company redraws its segments or changes how it adjusts EPS, it restates the year-ago column, so the year-ago figure in a new release can differ from the one printed a year ago. This page always uses the comparison in the newer release, because that is the like-for-like one.

A walk-through of every line in a release, with what each one tells you, is in how to read an earnings report.