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Lowe’s released its first quarter of 2026 financial results, reporting $1.6 billion in net earnings, a 0.79% decrease year over year. Comparable store sales for the quarter increased 0.6%, which the company says was driven by strong spring sales and a 15.5% growth in online sales. Total sales for Q1 2026 were $23.1 billion, a 10.53% increase year over year.
Lowe’s also reported diluted earnings per share of $2.90, a 0.68% decrease from $2.92 one year ago.
“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,” says Marvin R. Ellison, Lowe’s chairman, president and CEO. “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.”
Lowe’s also reaffirmed its outlook for fiscal 2026:
- Comparable sales expected to be flat to up 2% as compared to the prior year
- Total sales of $92.0 to 94.0 billion or an increase of approximately 7% to 9% compared to the prior year
- Diluted earnings per share of approximately $11.75 to $12.25
