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Home Depot’s Earnings Were Surprisingly Good. Lowe’s Could Be Different.

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Demand for do-it-yourself projects is still soft. That could weigh on Lowe's more than Home Depot.

Home Depot’s better-than-feared earnings gave investors hope that the home improvement sector’s challenges may be ending soon. That doesn’t mean results from Lowe’s, due Tuesday morning, will be pretty.

Foot traffic seems to back up Melich’s assertion. Visits to Lowe’s and Home Depot are down compared with last year, but have improved over the summer, according to data from Placer.ai. The Street is now expecting Lowe’s to deliver adjusted earnings of $4.47 a share, compared with the consensus call for $4.49 at the end of July. Revenue estimates for $25 billion have remained largely unchanged.

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