EARNINGS & CATALYSTS · November 11, 2026
Lowe’s earnings preview: can contractor demand offset cautious homeowners? — November 18, 2026
Lowe’s reports on November 18 before open. The key question is whether contractor sales and essential repairs can support profit after the company lowered its annual outlook.
| Company | Report date | Window | EPS estimate | Revenue estimate |
|---|---|---|---|---|
| Lowe's Companies, Inc. (LOW) | November 18, 2026Issuer confirmed | Before open | 2.89 | 22.38B |
1) When is earnings, and what should investors watch?
Lowe’s confirmed its fiscal third-quarter 2026 earnings call for November 18, 2026 before open. Its August 19 annual outlook is the central benchmark: $92 billion in sales, flat comparable sales and adjusted EPS of $12.25. Those targets were lowered from ranges of $92–$94 billion, flat to 2% comparable growth, and adjusted EPS of $12.25–$12.75. These are management forecasts, not analyst estimates.
2) Is growth coming from customers or acquisitions?
Second-quarter sales reached $25.956 billion, up from $23.959 billion a year earlier, but comparable sales rose just 0.2%. Acquisitions change the size of the business, so the total sales increase alone does not show a broad recovery in homeowner spending. Contractor, online and home-services demand provided support while discretionary do-it-yourself spending remained under pressure. Watch whether that split improves.
3) What did the previous earnings reports show?
Using Benzinga’s release-date comparison, second-quarter adjusted EPS of $4.40 exceeded $4.38, while revenue of $25.956 billion missed the rounded $26.25 billion estimate. First-quarter adjusted EPS of $3.03 beat $2.96, and revenue of $23.078 billion exceeded $22.86 billion. Reported EPS was $4.27 in the second quarter and $2.90 in the first; the adjusted figures exclude acquisition-related amortization. Second-quarter adjusted profit still included the tariff-refund benefit, so it should not be read as entirely recurring.
4) What does the share price imply?
Lowe’s closed November 10 at $231.87, about 18.9 times its full-year adjusted EPS guidance. Shares have rallied from late-October levels toward the recent $234–$235 high area. Sustained closes above $235 would extend that rally; a move below the $220–$224 pullback area would weaken it. These are approximate chart areas, and an earnings surprise can move the stock beyond them.
5) How the business makes money
Lowe’s earns revenue from home improvement goods, installation services and professional customers. Its retail stores remain the largest business. Foundation Building Materials and Artisan Design Group expand its reach into building-product distribution and interior finishes, bringing additional revenue but also integration costs and exposure to construction activity.
6) What to watch
The next decision is whether necessary repairs and contractor purchases can stabilize underlying demand enough to protect the reduced profit outlook. Watch comparable sales alongside margins, rather than treating acquisition-driven revenue growth as a recovery in the existing business. Better sales without deeper discounting would be a stronger signal than earnings helped mainly by temporary benefits.
7) Recently reported peers
Builders FirstSource reported on October 29 that revenue fell 2.2% from a year earlier as weaker housing starts weighed on demand. Adjusted EPS of $1.51 exceeded Benzinga’s $1.06 release-date consensus, but an income-tax benefit helped profits while gross margin declined. It narrowed annual sales guidance to $14.2–$14.6 billion with the midpoint unchanged. This supports a cautious housing backdrop; its heavier new-construction exposure differs from Lowe’s mix of repairs, remodeling and retail.
8) Risks into the report
High borrowing costs can discourage large renovations and housing transactions. Lowe’s also faces acquisition integration, labor and product-cost pressures, and the risk that promotional discounts reduce margins. If the November outlook weakens after the recent share-price rally, valuation could come under pressure even with a quarterly profit beat.
9) Insider activity over the past three months
No insider purchases or sales were reported in the past three months.