Lowe’s (LOW) Q1 2026 earnings

Lowe’s On Wednesday, it reported quarterly results that beat expectations at the top and bottom lines and reaffirmed its full-year outlook.

The company’s shares were down slightly in premarket trading.

Here’s how the company performed in the first fiscal quarter compared to Wall Street estimates, according to a survey of analysts conducted by LSEG:

• Earnings per share: $3.03 vs expected $2.97
• Revenues: 23.08 billion dollars, while the expectation was 22.97 billion dollars

For the three months ending May 1, Lowe’s reported net income of $1.63 billion, or $2.90 per share, down slightly from $1.64 billion, or $2.92 per share, in the same period a year ago. Excluding one-time factors such as acquisition costs, the company reported adjusted earnings per share of $3.03.

Revenues increased by approximately 10 percent compared to the previous year. Comparable sales rose 0.6% in the quarter, driven by Lowe’s spring implementation and 15.5% growth in online sales. Strength in sales to home professionals such as home appliances, home services and contractors also contributed to its performance.

“We continue to grow our market share in a challenging housing environment shaped by high interest rates, high costs and low housing turnover, while DIY demand remains subdued,” CEO Marvin Ellison said on a call with analysts Wednesday. “While we expect the broader market to remain stable in 2026, our focus is to continue to execute our total housing strategy in a disciplined manner, driving continued growth regardless of market conditions.”

Ellison said the company sees a K-shaped economic dynamic emerging, where higher-income consumers spend more and lower-income consumers hold back on spending.

“We have a track record of performing well, managing expenses and finding ways to grow sales regardless of the macro, and we plan to gain share this quarter,” he said.

The company also reaffirmed its full-year guidance, expecting total sales to be between $92 billion and $94 billion, up 7% to 9% from the prior year. It expects comparable sales to remain flat, up 2% from last year.

Lowe’s said it expects full-year adjusted earnings per share to be between $12.25 and $12.75.

The gains come amid consumer caution as the housing market struggles and gas prices rise.

“Overall, this has been the most difficult housing market I’ve encountered in this business since the financial crisis,” Ellison said on the call.

Bill Boltz, Lowe’s vice president of merchandising, said Wednesday that the company’s core professional customers are “busy” with repair and maintenance projects.

Company executives said in the meeting that high oil prices also put pressure on the company. While the impact in the first quarter was minimal, the current quarter faces more challenges, they said.

Lowe’s in February to cut Nearly 600 corporate and support roles as the company says it wants to focus more on store associates and align its resources.

Lowe’s opponent earlier this week Home Depot It said its core customer base remains resilient as it reaffirmed its full-year guidance and beat Wall Street expectations. The retailer also said it was applying for tariff rebates, which it said could help offset rising fuel costs.