家得宝和劳氏等家装零售商正面临着高利率和低迷住房市场的持续挑战，但华尔街分析师认为，劳氏有望受益于美国住房老化和专业翻新需求的增长。
美国住房平均屋龄已超过41年，2000年代中期房地产繁荣时期建造的房屋如今也已接近20年大修期。瑞银分析师指出，屋顶更换、暖通空调系统老化等刚需维修无法无限期推迟，这将为家装市场每年带来额外10亿至20亿美元的刚性支出。
尽管存在结构性需求，劳氏近期业绩仍显平淡。公司第一财季财报显示，可比销售额仅增长0.6%，远低于市场对增长故事的预期。不过，专业承包商业务成为亮点，目前该部分收入占比已从2019年的不到20%提升至约30%，本季度继续跑赢DIY业务。
劳氏正通过一系列收购加速向专业承包商领域转型。公司斥资88亿美元收购了Foundation Building Materials和Artisan Design Group，以拓展特种建材分销和安装服务能力。公司重申2026财年可比销售额增长0%至2%的指引，并预计专业业务表现将继续领先DIY板块。
责任编辑：张俊 SF065
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.