Today, Lowe’s reported quarterly results that exceeded expectations on both the top and bottom lines and reaffirmed its full-year outlook.
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.
Marvin R. Ellison, Lowe’s President and CEO, told investors, “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. 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.”
The company is affirming its outlook for fiscal year 2026.
- Total sales of $92.0 to 94.0 billion or an increase of approximately 7% to 9% compared to prior year
- Comparable sales expected to be flat to up 2% as compared to prior year
- Operating income as a percentage of sales (operating margin) of 11.2% to 11.4%
- Adjusted1 operating income as a percentage of sales (adjusted operating margin) of 11.6% to 11.8%
- Net interest expense of approximately $1.6 billion
- Effective income tax rate of approximately 24.5%
- Diluted earnings per share of approximately $11.75 to $12.25
- Adjusted1 diluted earnings per share of approximately $12.25 to $12.75
- Capital expenditures of up to $2.5 billion
In February, Lowe’s cut approximately 600 corporate and support roles as the company stated it wanted to focus more on its store employees and align its resources.
Lowe’s shares fell slightly following the announcement.
By CEO NA Editorial Staff
