Lowe's reports $1.6 billion Q1 earnings

Lowe's reported first-quarter 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 Mooresville, North Carolina-based home improvement retailer said comparable sales increased 0.6% and adjusted diluted earnings per share were $3.03. Lowe's also affirmed its full-year 2026 outlook, according to its earnings release. The results came as investors watched whether demand from professional customers could help offset a still-weak housing backdrop in the spring selling season. ### How did Lowe's describe the quarter? Lowe's said first-quarter sales and earnings were supported by a positive comparable-sales result, even as headline profit edged below the year-earlier quarter. The company reported net earnings of $1.6 billion and diluted EPS of $2.90, compared with diluted EPS of $2.92 in the first quarter of 2025, according to the release. The quarter included $96 million in pre-tax expenses tied to Lowe's acquisitions of Foundation Building Materials and Artisan Design Group. Those costs reduced reported earnings, while adjusted diluted EPS came to $3.03, the company said. ### Which numbers stood out beyond profit? Comparable sales rose 0.6% in the quarter, a figure Lowe's highlighted alongside its earnings release. CNBC reported Lowe's beat Wall Street expectations for the quarter and kept its full-year guidance in place despite what it described as a challenging housing backdrop. Full-year guidance matters because Lowe's had already told investors earlier in 2026 to expect sales of $92 billion to $94 billion for the year. The company reiterated that outlook on Wednesday, according to its release and investor materials. ### Why were investors focused on Pro customers? Investing.com said ahead of the results that investors were watching whether growth from Lowe's professional, or Pro, customers could offset pressure from a weak housing market and a soft spring selling environment. That focus reflects a broader question for home-improvement retailers as higher borrowing costs weigh on larger discretionary projects. CNBC said Lowe's results were helped by online sales growth and strength with home professionals, while do-it-yourself demand remained more uneven. The company did not frame the quarter as a broad housing recovery in the release. ### How does this compare with the bigger home-improvement backdrop? Home Depot reported its own quarterly results a day earlier, making this a closely watched week for the sector. Lowe's figures gave investors another read on whether home-improvement demand is stabilizing after a period of pressure from elevated mortgage rates and cautious consumer spending. Lowe's first-quarter release did not change the company’s annual forecast. That leaves investors looking to management commentary for detail on sales trends, margins and integration costs tied to FBM and ADG. ### What are FBM and ADG doing in this earnings report? Foundation Building Materials and Artisan Design Group were cited directly in Lowe's release because the company booked acquisition-related expenses tied to those deals in the quarter. The $96 million in pre-tax costs show how Lowe's current results are being affected by its push further into professional and construction-adjacent customers. Those acquisitions have been part of Lowe's effort to expand beyond traditional retail home-improvement demand. Wednesday's release did not provide a new standalone sales figure for those businesses in the summary results. ### Where can investors get the next details? Lowe's scheduled a conference call to discuss first-quarter 2026 operating results for Wednesday, May 20, at 9 a.m. ET, according to its investor relations site. The webcast was set to be available through the company’s earnings conference call page, where Lowe's also posted the press release and related materials.