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.
“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.
