Lowe’s delivered first quarter results that were slightly ahead of Wall Street’s revenue and profit expectations, with same-store sales remaining flat and operating margin holding steady versus last year. Management pointed to strong spring execution and resilience in the Pro customer base as primary drivers of performance, despite ongoing weakness in DIY discretionary categories. CEO Marvin Ellison highlighted that “continued strength in Pro, Appliances, Online and Home Services” helped offset a slow start to the spring season caused by February storms. The quarter also benefited from successful in-store events and expanded fulfillment options, which contributed to increased customer engagement.
Is now the time to buy LOW? Find out in our full research report (it’s free for active Edge members).
Lowe's (LOW) Q1 CY2026 Highlights:
- Revenue: $23.08 billion vs analyst estimates of $22.95 billion (10.3% year-on-year growth, 0.6% beat)
- Adjusted EPS: $3.03 vs analyst estimates of $2.97 (2.1% beat)
- Adjusted EBITDA: $3.12 billion vs analyst estimates of $3.13 billion (13.5% margin, in line)
- The company reconfirmed its revenue guidance for the full year of $93 billion at the midpoint
- Management reiterated its full-year Adjusted EPS guidance of $12.50 at the midpoint
- Operating Margin: 11.1%, in line with the same quarter last year
- Locations: 1,759 at quarter end, up from 1,750 in the same quarter last year
- Same-Store Sales were flat year on year (-1.7% in the same quarter last year)
- Market Capitalization: $119 billion
While we enjoy listening to the management's commentary, our favorite part of earnings calls are the analyst questions. Those are unscripted and can often highlight topics that management teams would rather avoid or topics where the answer is complicated. Here is what has caught our attention.
Our Top 5 Analyst Questions From Lowe's’s Q1 Earnings Call
- Christopher Horvers (JPMorgan) asked about the impact of weather and tax refunds on sales timing. CFO Brandon Sink explained that February storms delayed spring demand, which normalized in March and April, and that most tax refund benefits are expected to appear in the second quarter.
- Steven Forbes (Guggenheim Securities) inquired about early engagement trends for the new HomeCare+ subscription service. CEO Marvin Ellison described customer uptake as promising but emphasized it is “early” and intended as a long-term loyalty driver.
- Katharine McShane (Goldman Sachs) questioned promotional activity going forward. Executive Vice President William Boltz noted that promotional cadence remains consistent year-over-year, with upcoming events around major holidays expected to drive customer interest.
- Simeon Gutman (Morgan Stanley) asked about the ability to grow in a sluggish housing market and the company’s exposure to big-ticket discretionary projects. Ellison said 60-65% of revenue comes from DIY, which is under pressure, but pointed to resilience in Pro and Appliances and investments in fulfillment and customer experience.
- Peter Benedict (Baird) focused on AI’s impact on productivity and back-end systems. Ellison outlined the framework of “how we sell, how we shop, and how we work,” with AI tools driving double-digit productivity gains and higher customer satisfaction.
Catalysts in Upcoming Quarters
Looking ahead, the StockStory team will be monitoring (1) the continued rollout and customer adoption of AI-powered tools and loyalty programs, (2) Lowe’s ability to grow Pro and Home Services segments as DIY headwinds persist, and (3) the integration progress and synergy realization from recent acquisitions like FBM and ADG. Execution on productivity initiatives and navigating inflationary and macroeconomic pressures will also be key areas of focus.
Lowe's currently trades at $212.33, down from $218.37 just before the earnings. At this price, is it a buy or sell? See for yourself in our full research report (it’s free).
High-Quality Stocks for All Market Conditions
WHILE YOU’RE HERE: Top 9 Market-Beating Stocks. The best stocks don't just beat the market once. They do it again. And again. Robust revenue growth, rising free cash flow, returns on capital that leave their competition in the dust. The market has already rewarded these businesses.
But our AI platform says the party isn't over. Find out which 9 stocks made the cut this week - FREE. Get Our Top 9 Market-Beating Stocks for Free HERE.
Stocks that have made our list include now familiar names such as Nvidia (+1,326% between June 2020 and June 2025) as well as under-the-radar businesses like the once-small-cap company Comfort Systems (+782% five-year return). Find your next big winner with StockStory today.
