Feb 25 (Reuters) – Lowe’s Cos forecast annual sales and profit below Wall Street estimates on Wednesday, as more Americans delay big-ticket home renovations and rein in do-it-yourself spending amid economic uncertainty and elevated borrowing costs.
Shares of the company, which rose a day earlier after upbeat results from bigger rival Home Depot, were down 4% before the bell on Wednesday.
Lowe’s expects 2026 comparable sales between flat to up 2%, largely below analysts’ average expectations of a 2% jump, according to data compiled by LSEG.
It projected adjusted earnings per share in the range of $12.25 to $12.75, compared with expectations of $12.95.
Same-store sales at the home improvement retailer rose 1.3% in the fourth quarter.
(Reporting by Savyata Mishra in Bengaluru; Editing by Sriraj Kalluvila)
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