Lowe's reports Q1 results, 1,759 stores

Lowe's reported first-quarter sales of $23.1 billion on May 20, beating Wall Street expectations and keeping its full-year forecast unchanged. The home improvement retailer said comparable sales rose 0.6% in the quarter ended May 1, while adjusted earnings per share came in at $3.03, ahead of analysts' expectations of $2.97, according to CNBC and the company’s earnings release. CEO Marvin Ellison said the quarter reflected “strong spring execution,” even as he described the broader housing backdrop as challenging. ### How did Lowe’s perform in the quarter? Lowe's said net income was $1.63 billion, or $2.90 per share, compared with $1.64 billion, or $2.92 per share, a year earlier. The company said adjusted diluted earnings per share increased 3.8% to $3.03 after excluding acquisition-related costs tied to Foundation Building Materials and Artisan Design Group. (cnbc.com) CNBC reported that analysts surveyed by LSEG had expected revenue of $22.97 billion and adjusted earnings per share of $2.97. Lowe’s reported revenue of $23.08 billion, or about $23.1 billion, topping those estimates on both measures. ### What businesses helped offset the housing slowdown? Marvin Ellison said growth was driven in part by spring demand, online sales, appliances, home services and Pro sales. (corporate.lowes.com) Lowe’s said online sales rose 15.5% in the quarter, according to a summary of the earnings call carried by Yahoo Finance. Yahoo Finance separately reported that Ellison called this the “most difficult housing market” since the financial crisis, while saying customers were still spending on smaller projects. (cnbc.com) CNBC said Ellison described the environment as a “challenging housing macro.” ### How big is Lowe’s store base now? As of May 1, 2026, Lowe’s said it operated 1,759 stores representing 196.0 million square feet of retail selling space. (cnbc.com) The figures were included in the company’s first-quarter earnings release. The store count gives a snapshot of Lowe’s physical footprint as the company leans on store operations, delivery and digital fulfillment at the same time. (cnbc.com) Lowe’s said same-day delivery and other fulfillment changes supported online growth in the quarter. ### What did Lowe’s say about the rest of 2026? (corporate.lowes.com) Lowe’s said it is affirming its fiscal 2026 outlook. The company forecast total sales of $92 billion to $94 billion, comparable sales ranging from flat to up 2%, and diluted earnings per share of about $11.75 to $12.25. Yahoo Finance reported that some investors focused on the fact that the company’s reaffirmed outlook was slightly below Wall Street expectations, even after the quarterly beat. (corporate.lowes.com) CNBC reported that Lowe’s shares rose more than 1% on May 20, while other market coverage showed the stock later traded lower as investors weighed the housing outlook. ### What comes next for investors? (corporate.lowes.com) May 20 is the date of Lowe’s latest earnings release and conference call, which set the baseline for the company’s fiscal 2026 targets. The next formal update is expected with Lowe’s second-quarter results, while investors will continue to track whether comparable sales, Pro demand and online growth hold within the ranges the company outlined in its guidance. (corporate.lowes.com) (cnbc.com)