Lowe’s (LOW) Q1 2026 earnings
People wait in line outdoors Lowes within the aftermath of Hurricane Milton on October 10, 2024 in Englewood, Florida.
Sean Rayford | Getty Images
Lowe’s on Wednesday reported quarterly outcomes that beat expectations on the highest and backside traces and reaffirmed its full-year outlook.
Shares of the corporate sank barely in premarket buying and selling.
Here’s how the corporate carried out in its first fiscal quarter in contrast with Wall Street estimates, in line with a survey of analysts by LSEG:
- Earnings per share: $3.03 adjusted vs. $2.97 anticipated
- Revenue: $23.08 billion vs. $22.97 billion anticipated
For the three-month interval ended May 1, Lowe’s reported internet revenue of $1.63 billion, or $2.90 per share, down simply barely from $1.64 billion, or $2.92 per share, within the year-ago interval. Excluding one-time elements like acquisition prices, the corporate reported adjusted earnings per share of $3.03.
Revenue jumped about 10% in comparison with the earlier yr. Comparable gross sales elevated 0.6% for the quarter, pushed by what Lowe’s stated was its spring execution and a 15.5% progress in on-line gross sales. Strength in home equipment, residence companies and gross sales to residence professionals like contractors additionally contributed to its efficiency.
“In spite of a challenging housing macro, we remain focused on advancing our Total Home strategy to provide the best experience for our customer,” CEO Marvin Ellison stated in a press release.
The firm additionally reaffirmed its full-year steerage, anticipating whole gross sales between $92 billion and $94 billion, a rise of between 7% and 9% in comparison with the earlier yr. It expects comparable gross sales to be flat to up 2% in comparison with final yr.
Lowe’s stated it expects adjusted earnings per share of between $12.25 and $12.75 for the total yr.
The earnings come in opposition to a backdrop of housing market struggles and client warning as fuel costs soar.
In February, Lowe’s cut roughly 600 company and assist roles as the corporate stated it needed to focus extra on its retailer staff and align its sources.
Earlier this week, Lowe’s rival Home Depot stated its core shopper remains resilient because it reaffirmed its full-year steerage and beat Wall Street expectations. The retailer additionally stated it has utilized for tariff refunds, which it stated might assist offset rising gas prices.
