Lowe’s Companies (NYSE: LOW) reported improved first quarter sales and earnings ahead of market open, benefiting from stronger year-over-year business trends and favorable analyst comparisons.
Lowe’s Companies disclosed adjusted earnings of $3.03 per share for the latest quarter, versus earnings of $2.92 per share reported a year earlier, while Wall Street analysts had projected earnings of $2.97 per share.
The business recorded quarterly revenue of $23.08 billion, above analyst projections of $22.97 billion and higher than $20.93 billion reported a year earlier.
Sharing its expectations for the upcoming period, Lowe’s Companies reported earnings expectations for the fiscal year 2026 in the range of $12.25 to $12.75 per share, compared with analyst expectations of $12.60 per share.
The revenue expectations was set between $92.00 billion and $94.00 billion, versus consensus estimates of $93.25 billion.
Marvin R. Ellison, Lowe’s chairman, president and CEO: “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”.
Ahead of the open, Lowe’s shares are down 2.02% at a price of $213.97. This marks a decrease of $4.42 from the previous close of $218.39. The stock’s 52-week trading range stands between $210.33 and $293.06.
