Lowe's Companies, Inc. (LOW) Announced Q1 2026 Earnings on May 20, 2026, Reporting "Sales for the first quarter were $23.1 billion"

Lowe's Companies, Inc. reported first quarter sales of $23.1 billion, with comparable sales increasing 0.6%.

The company generated GAAP diluted earnings per share of $2.90 and adjusted diluted earnings per share of $3.03 for the quarter.

Gross margin for the first quarter was 32.7%, and the adjusted operating margin rate was 11.5%.

Additionally, the company generated $2.8 billion in free cash flow in the first quarter.

Management highlighted that positive comparable sales for the quarter were driven by strong execution during the spring season and the SpringFest event, despite winter storms in February.

The company continues to advance its Total Home strategy, achieving 15.5% sales growth online and maintaining momentum in the Pro and Home Services segments.

Management also discussed perpetual productivity improvement initiatives, leveraging AI tools like the Mylow shopping assistant and Mylow companion for associates to drive productivity and enhance the customer experience.

During the quarter, Lowe's launched HomeCare+, a subscription service offering routine home maintenance tasks exclusively for MyLowe's Rewards members.

The company also rolled out an AI-enabled tool for materials lists that converts formats like photos or handwritten notes into actionable quotes for Pro customers.

Other highlights included offering free same-day delivery for purchases over $25 for loyalty members, an upcoming limited edition Messi inflatable as part of a partnership with Lionel Messi, and a $250 million investment by the Lowes Foundation to train skilled tradespeople.

For the full fiscal year 2026, Lowe's affirmed its outlook, expecting sales in the range of $92 billion to $94 billion and comparable sales in a range of flat to up 2%.

Management anticipates a full year adjusted operating margin in a range of 11.6% to 11.8% and full year adjusted diluted earnings per share of approximately $12.25 to $12.75.

Capital expenditures are expected to be up to $2.5 billion for the year.