Lowe’s Q2: Weather Shifts Spark a Late-Quarter Comeback

After a slow, weather-challenged spring, Lowe’s finished Q2 with momentum — contrasting with Home Depot’s softer rebound.

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“When the sun is shining, our business performs a lot better.” — Marvin Ellison, Lowes CEO

A Weather-Driven Quarter

Lowe’s reported Q2 sales of $24 billion, with comparable sales up 1.1% for the quarter. The story was shaped heavily by weather, which was referenced 15 times during the earnings call — underscoring how central it was to Lowe’s performance this quarter.

• May: Comps down 1% as persistent rain and cooler temperatures held back seasonal sales.

• June: Comps edged up 0.3% as conditions improved.

• July: Comps surged 4.7%, fueled by a catch-up in outdoor, lawn, and cooling categories once weather normalized.

“Our performance clearly improved as the weather turned more favorable in June and July,” management emphasized.