Lowe's reports Q1 2026 earnings

Lowe's reported first-quarter 2026 net earnings of $1.6 billion on Wednesday and said diluted earnings per share were $2.90 for the quarter ended May 1, 2026. The home-improvement retailer also said adjusted diluted earnings per share were $3.03 and comparable sales rose 0.6%, while it reaffirmed its full-year 2026 outlook. Lowe's said the quarter included $96 million in pre-tax expenses tied to its acquisitions of Foundation Building Materials and Artisan Design Group. The company released the results before a scheduled 9 a.m. ET conference call. ### How did sales and profit compare with a year earlier? Lowe's said first-quarter sales totaled $20.9 billion, compared with $21.4 billion in the year-earlier period. Net earnings were $1.6 billion, and diluted earnings per share were $2.90, compared with diluted earnings per share of $2.92 in the first quarter of 2025, according to the company's release. (corporate.lowes.com) The company said adjusted diluted earnings per share were $3.03 after excluding acquisition-related costs. CNBC reported Lowe's beat Wall Street expectations on both revenue and earnings and reaffirmed its full-year guidance. ### What did Lowe's say drove the quarter? Marvin Ellison, Lowe's chairman, president and chief executive, said in the company's statement that the quarter was supported by "continued strength in Pro and online" and by sales tied to spring events. (corporate.lowes.com) CNBC said growth in the quarter was driven in part by strong spring execution, online sales, appliances, home services and Pro sales. (cnbc.com) Lowe's also said repair and maintenance categories remained resilient, a point that had been closely watched ahead of the report as investors looked for signs that necessary home spending was holding up better than larger discretionary projects. Yahoo Finance's pre-earnings coverage had highlighted repair and maintenance demand, productivity initiatives and omnichannel investments as areas of relative strength. (cnbc.com) ### What do the acquisition costs show up as in the results? The company said it recorded $96 million of pre-tax expenses in the quarter related to the acquisitions of Foundation Building Materials, or FBM, and Artisan Design Group, or ADG. Those costs were the main difference between reported diluted earnings per share of $2.90 and adjusted diluted earnings per share of $3.03. (corporate.lowes.com) Lowe's has been expanding its exposure to professional customers, and the FBM and ADG deals are part of that push. Pre-earnings coverage from Investing.com said analysts were focused on whether Pro growth could offset weakness in the housing market. That framing remained in place on Wednesday as the company pointed to Pro demand as a source of strength. (finance.yahoo.com) ### Did Lowe's change its outlook for the year? Lowe's said it affirmed its full-year 2026 outlook. CNBC reported the company expects total sales of $92 billion to $94 billion and comparable sales ranging from flat to up 2% for the year. Ellison said in the statement that Lowe's remained focused on its "Total Home strategy" despite what he called a "challenging housing macro." (corporate.lowes.com) Rival Home Depot also reaffirmed its guidance this week, CNBC reported, after saying its core customer remained resilient. ### Where can investors get the next update? Lowe's said its first-quarter 2026 earnings conference call was scheduled for Wednesday, May 20, at 9 a.m. (cnbc.com) ET, with a webcast available through its investor relations site. The company also said a replay would be available from noon ET on May 20, 2026 through May 19, 2027 in the Events & Presentations section of its investor relations website. (corporate.lowes.com)