Lowe’s Companies, Inc. (NYSE:LOW) beat Wall Street estimates for first-quarter earnings and revenue, but the stock traded lower after the results on Wednesday.
Investors remained cautious about the home improvement sector amid a sluggish housing market, elevated interest rates and softer discretionary spending on large renovation projects.
The home improvement retailer reported first-quarter fiscal 2026 adjusted EPS of $3.03, beating analyst estimates of $2.97, while revenue of $23.1 billion topped estimates of $22.98 billion.
Diluted EPS was $2.90, compared with $2.92 a year earlier, while net earnings totaled $1.6 billion.
Sales Growth And Operating Performance
Sales rose from $20.9 billion a year earlier, while comparable sales increased 0.6%, marking Lowe’s fourth consecutive quarter of positive comp growth.
The company cited strong spring execution, 15.5% growth in online sales, and continued strength in Pro sales, appliances, and home services.
Lowe’s recorded $96 …