Lowe's Companies, Inc. (NYSE: LOW) has announced its financial results for the first quarter of 2026, revealing a robust performance amidst a challenging housing market. The company reported net earnings of $1.6 billion, representing diluted earnings per share (EPS) of $2.90, slightly down from $2.92 in the same quarter of the previous year.

1. Key Financial Highlights

Net Earnings: $1.6 billion

Diluted EPS: $2.90 (down from $2.92 in Q1 2025)

Adjusted Diluted EPS: $3.03 (3.8% increase excluding acquisition expenses)

Total Sales: $23.1 billion (up from $20.9 billion in Q1 2025)

Comparable Sales Growth: 0.6%

Online Sales Growth: 15.5%

During this quarter, Lowe's incurred $96 million in pre-tax expenses linked to its acquisitions of Foundation Building Materials (FBM) and Artisan Design Group (ADG). When these expenses are excluded, the adjusted diluted EPS for the quarter rose to $3.03, marking a commendable 3.8% increase compared to the prior-year diluted EPS.

2. Sales Performance

Lowe's reported total sales of $23.1 billion, a significant increase from $20.9 billion in the same quarter last year. The company's comparable sales for the quarter experienced a modest growth of 0.6%. This growth was primarily fueled by effective spring execution and a notable 15.5% increase in online sales. Additionally, continued strength in key categories such as appliances, home services, and Pro sales contributed to this positive trend.

Marvin R. Ellison, Lowe's chairman, president, and CEO, commented on the results, stating, "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." He acknowledged the challenges posed by the current housing macro environment but emphasized the company's commitment to its Total Home strategy aimed at enhancing customer experience. Ellison also expressed gratitude to Lowe's associates for their dedication during the busy spring season.

3. Store Operations

As of May 1, 2026, Lowe's operated a total of 1,759 stores, encompassing 196.0 million square feet of retail selling space. This extensive footprint allows the company to serve a wide customer base effectively.

4. Commitment to Shareholder Value

Lowe's remains steadfast in its commitment to delivering sustainable shareholder value, as demonstrated through its disciplined capital allocation program. During the first quarter, the company paid out $674 million in dividends, reinforcing its dedication to returning capital to shareholders.

5. Conclusion

The first quarter of 2026 marks another solid performance for Lowe's Companies, Inc. Despite facing headwinds in the housing market, the company has demonstrated resilience through strategic sales growth and a focus on customer experience. With its ongoing commitment to capital allocation and shareholder value, Lowe's is well-positioned for continued success in the upcoming quarters.

Original press release