Hardware Retailing The Industry's Source for Insights and Information
Lowe’s reported its Q2 2025 financial results, marking $24 billion in total sales, a 1.7% increase year over year. Comparable sales for the quarter also increased by 1.1%. Net earnings for Q2 2025 were $2.4 million, a 0.01% increase year over year.
Lowe’s posted positive growth in both professional and DIY customer groups, which contributed to the positive sales figures. Pro penetration was up from 19% in 2019 to 30% in 2025, reflecting the percentage of Lowe’s pro sales compared to Lowe’s total sales.
Lowe’s also updated its fiscal 2025 financial expectations following the acquisition of Artisan Design Group (ADG) in June:
- Total sales of $84.5 to $85.5 billion (previously $83.5 to $84.5 billion)
- Operating margin of 12.1% to 12.2% (previously 12.3% to 12.4%)
“This quarter, the company delivered positive comp sales driven by solid performance in both pro and DIY. Despite challenging weather early in the quarter, our teams drove both sales growth and improved profitability. I’d also like to thank our frontline associates for their outstanding service, which led to another increase in customer satisfaction scores,” says Marvin R. Ellison, Lowe’s chairman, president and CEO. “In June, we closed on the acquisition of ADG, which strengthens our ability to capture a greater portion of Pro planned spend and expands our reach into the new home construction market.”
As it focuses on the complex pro market, Lowe’s announced the acquisition of Foundation Building Materials (FBM) for $8.8 billion.
“With this acquisition, we are advancing our multiyear transformation of the pro offering,” Ellison says. “It allows us to serve the large pro planned spend within a $250 billion total addressable market and aligns perfectly with our Total Home strategy. FBM’s scalable, multi-trade distribution platform and strong leadership combined with our recent acquisition of ADG will significantly enhance our pro offering. We’re excited to welcome the FBM team and strengthen our solutions for our growing Pro customers.”
FBM is a distributor of building products, including drywall, metal framing, ceiling systems, commercial doors and hardware, insulation and other products for large residential and commercial professionals. FBM operates over 370 locations across the U.S. and Canada.
“Joining Lowe’s is an exciting next step. Since 2011, we’ve built a leading position in drywall, ceiling systems and metal framing, with proven success integrating acquisitions,” says Ruben Mendoza, FBM president and CEO. “Together with Lowe’s complementary products and incredible brand, we’ll offer a more comprehensive solution for pro customers and accelerate growth.”
