Business
LOWE'S REPORTS FIRST QUARTER 2026 SALES AND EARNINGS RESULTS
LOWE'S REPORTS FIRST QUARTER 2026 SALES AND EARNINGS
About this update from Lowe's Companies, Inc.
[{"type":"text","content":"— Diluted EPS of $2.90; Adjusted Diluted EPS1 of $3.03 —— Comparable Sales increased 0.6% — — Affirms Full Year 2026 Outlook —MOORESVILLE, N.C., May 20, 2026 /PRNewswire/ -- Lowe's Companies, Inc. (NYSE: LOW) today reported net earnings of $1.6 billion and diluted earnings per share (EPS) of $2.90 for the quarter ended May 1, 2026, compared to diluted EPS of $2.92 in the first quarter of 2025. During the first quarter, the company recognized $96 million in pre-tax expenses associated with the acquisitions of Foundation Building Materials (FBM) and Artisan Design Group (ADG). Excluding these expenses, first quarter 2026 adjusted diluted EPS1 increased 3.8% to $3.03 compared to the prior-year diluted EPS.Total sales for the quarter were $23.1 billion, compared to $20.9 billion in the prior-year quarter. Comparable sales for the quarter increased 0.6%, driven by strong spring execution as well as a 15.5% online sales growth and continued strength in appliances, home services and Pro sales.\"Strong spring execution and continued momentum in Pro, Appliances, Online, and Home Services supported a solid start to the year as we delivered our fourth consecutive quarter of positive comp sales,\" said Marvin R. Ellison, Lowe's chairman, president and CEO. \"In spite of a challenging housing macro, we remain focused on advancing our Total Home strategy to provide the best experience for our customer. I'd also like to thank our associates for their dedication to serving our customers throughout the busy spring season.\"As of May 1, 2026, Lowe's operated 1,759 stores, representing 196.0 million square feet of retail selling space.Capital AllocationThe company remains committed to generating sustainable shareholder value through a disciplined focus on its capital allocation program. During the quarter, the company paid $674 million in dividends.1Adjusted diluted earnings per share is a non-GAAP financial measure. Refer to the \"Non-GAAP Financial Measures Reconciliation\" section of this release for additional information, as well as reconciliations between the company's GAAP and non-GAAP financial results.Lowe's Business Outlook &n...