Lowe’s exceeded Wall Street’s earnings expectations due to increased demand for home improvement projects. The retailer announced its acquisition of Foundation Building Materials for $8.8 billion and revised its full-year outlook. Lowe’s expects total sales of $84.5 billion to $85.5 billion for the year. Comparable sales are forecasted to be flat to up 1%.

The company reported earnings per share of $4.33 and revenue of $23.96 billion for the fiscal second quarter, surpassing analyst expectations. Lowe’s has focused on attracting home professional customers to boost sales as home improvement demand weakens due to higher borrowing costs and mortgage rates.

Lowe’s CEO, Marvin Ellison, highlighted the company’s strong performance in both the DIY and home professional segments. In the second quarter, net income rose to $2.4 billion, with comparable sales increasing by 1.1%. Lowe’s rival, Home Depot, missed quarterly sales and earnings expectations but maintained its full-year sales growth forecast of 2.8%.

Home Depot has also bolstered its pro business through acquisitions, including SRS Distribution and GMS. The company has been targeting professionals in the roofing, pool, and landscaping industries to drive growth. Lowe’s and Home Depot both aim to leverage the demand from home professionals to sustain sales in the competitive home improvement market.

Read more at CNBC: Lowe’s (LOW) Q2 2025 earnings