LOW
Lowe's Q2 FY26 earnings
Revenue $26.0B. Net income $2.4B.
Lowe's grew revenue 8% to $26.0B and filed no revenue breakdown; the card carries what the filer stated: comparable sales up 0.2%, online sales up 15.7%, 1,761 stores, 196.0M square feet. Net income held flat at $2.4B, 9.2% of revenue.
The fiscal year behind the quarter: revenue $86.3B, up 3%.
The full-year view: revenue grew 3% to $86.3B, and net income came in at $6.7B, a 7.7% margin, down 4% from the prior year. Ten smaller sales rows add up to $41.2B, 48% of the total.
The quarter, line by line
| Line | Amount | % of revenue% | Y/Y |
|---|---|---|---|
| Revenue | $26.0B | ||
| Cost of revenue | $17.4B | 67.0% | |
| Gross profit | $8.6B | 33.0% | |
| Operating income | $3.5B | 13.7% | |
| Pretax income | $3.2B | 12.2% | |
| Income tax | $776M | 3.0% | |
| Net income | $2.4B | 9.2% |
Effective tax rate: 24.4%. That is tax as a share of pretax income. The 3.0% in the column above is tax as a share of revenue, which is not a tax rate.
The last 8 quarters
| Quarter ended | Revenue | Net income | Net margin |
|---|---|---|---|
| Jul 31, 2026 | $26.0B | $2.4B | 9.2% |
| May 1, 2026 | $23.1B | $1.6B | 7.1% |
| Jan 30, 2026 | $20.6B | $999M | 4.9% |
| Oct 31, 2025 | $20.8B | $1.6B | 7.8% |
| Aug 1, 2025 | $24.0B | $2.4B | 10.0% |
| May 2, 2025 | $20.9B | $1.6B | 7.8% |
| Jan 31, 2025 | $18.6B | $1.1B | 6.1% |
| Nov 1, 2024 | $20.2B | $1.7B | 8.4% |