Lowe's Companies, Inc., together with its various subsidiary entities, operates as a prominent home improvement retailer serving both the United States and ...
Lowe's Companies, Inc., founded in 1921, is a leading home improvement retailer in the U.S. and internationally. With headquarters in Mooresville, North Carolina, it operates over 2,000 stores and online platforms like Lowes.com and Lowesforpros.com. The company provides a comprehensive assortment of products including appliances, lumber, tools, paint, hardware, and ...Lowe's Companies, Inc., founded in 1921, is a leading home improvement retailer in the U.S. and internationally. With headquarters in Mooresville, North Carolina, it operates over 2,000 stores and online platforms like Lowes.com and Lowesforpros.com. The company provides a comprehensive assortment of products including appliances, lumber, tools, paint, hardware, and building materials, along with installation services. It serves DIY homeowners, renters, and professional contractors. Financially, Lowe's generates substantial revenue, with a market cap around $124 billion, and maintains a commitment to innovation and customer service. Key executives include CEO Marvin Ellison, who has extensive retail experience. The company also focuses on community support and sustainability initiatives. With over 100,000 employees, Lowe's is a significant employer and contributor to the home improvement industry.
YoYYoY means Year-over-Year. It compares the latest annual value with the previous annual value to show long-term trend strength.
QoQQoQ means Quarter-over-Quarter. It compares the latest quarter with the immediately previous quarter to show short-term momentum changes.
RevenueThe total money that came through the front door from selling things, before paying a single bill. Think of it as the grand total of every credit card swipe from customers. (YoY compares this year to last year's performance, while QoQ compares the current three months to the previous three).
$86.3B
+3.1%
+12.5%
Net IncomeThe absolute bottom line. If the company paid every single supplier, employee, banker, and tax collector, this is the actual money left in their pocket at the end of the day.
$6.7B
-4.4%
+47.4%
Gross MarginThe basic markup. If they sell a $100 pair of sneakers, this percentage tells you how much of that price tag is profit right after paying for the rubber and shoelaces, but before paying for things like store rent or TV commercials.
+33.5%
+0.5%
+1.1%
Operating MarginThe 'day job' efficiency score. Out of every dollar a customer spends, this shows how many cents the company keeps after making the product AND paying for all the everyday corporate overhead (like salaries, marketing, and keeping the lights on).
+11.8%
-5.9%
+23.6%
Net MarginThe final take-home percentage. When you strip away every conceivable cost, tax, and interest payment, this is the exact number of cents the company truly gets to keep from every dollar in sales.
+7.7%
-7.3%
+31.0%
Free Cash FlowThe holy grail of corporate cash. It's the spendable, physical money left over after the business pays for its daily operations AND buys the big, expensive upgrades (like new factories or servers) it needs to survive. This is the 'free' money they can use to pay dividends or buy back stock.
$7.7B
-0.6%
+10.2%
FCF MarginThe ultimate cash conversion rate. It shows how good the company is at turning regular sales directly into cold, hard, spendable cash. A high percentage means the business is an absolute cash-printing machine.
+8.9%
-3.6%
-2.0%
Debt / EquityThe financial risk gauge. It compares how much of the company's empire was built using borrowed money (loans) versus the owners' own money (shareholders). A high number means they are heavily leveraged and playing a riskier game; a low number means they are playing it safe.
-450.5%
-61.6%
-23.1%
Current RatioThe 12-month survival check. It simply compares the cash they have right now (plus things they can quickly turn into cash) against the immediate bills they absolutely must pay this year. A score above 1 means they have enough in the wallet to cover the upcoming bills without panicking.
1.08x
-0.8%
+1.0%
Total AssetsThe absolute size of the company's empire. It bundles together absolutely everything of value they own—from the cash in the register and the inventory in the warehouse, to the software patents in the vault and the factories on the ground.
Operator: Good morning, everyone. Welcome to Lowe's Companies First Quarter 2026 Earnings Conference Call. My name is Rob, and I'll be your operator for today's call. As a reminder, this conference call is being recorded. I'll now turn the call over to Shelly Hubbard, Vice President of Investor Relations.
Shelly Hubbard: Thank you, and good morning. Here with me today are Marvin Ellison, Chairman and Chief Executive Officer; Bill Boltz, our Executive Vice President, Merchandising; Joe McFarland, our Executive Vice President, Stores; and Brandon Sink, our Executive Vice President and Chief Financial Officer. I would like to remind you that our notice regarding forward-looking statements is included in our press release this morning, which can be found on Lowe's Investor Relations website. During this call, we will be making comments that are forward-looking, including our expectations for fiscal 2026, actual results may differ materially from those expressed or implied as a result of various risks, uncertainties and important factors, including those discussed in the risk factors, MD&A and other sections of our annual report on Form 10-K and our other SEC filings. Additionally, we'll be discussing certain non-GAAP financial measures. A reconciliation of these items to U.S. GAAP can be found on the Quarterly Earnings section of our Investor Relations website. Now I'll turn the call over to Marvin.
Marvin Ellison: Thank you, Shelly. Good morning, everyone. Before we begin, let me take a moment and welcome Shelly Hubbard to the team. Shelly recently joined Lowe's as Vice President of Investor Relations, and we're excited to have her on board. Now let's start with our results. In the first quarter, we delivered sales of $23.1 billion with comparable sales increasing 0.6%, leading to adjusted diluted earnings per share of $3.03, up 3.8% versus the prior year. Our results were driven by strong spring execution, along with continued strength in Pro, Appliances, Online and Home Services. We're pleased with our performance this quarter despite February storms that slowed the start of the spring season. Our teams executed at a high level throughout the quarter, particularly during SpringFest, where we were well positioned with strong in-stocks, compelling offers, targeted member deals and traffic-driving store events. Bill will provide additional perspective on our spring performance later in the call. Our continued growth in Pro, Online and Home Services in Q1 reflects how our Total Home strategy is positioning Lowe's for short- and long-term market share gains. Starting with Pro. We maintain our momentum with our competitive assortment of national brands, consistent strong in-stock position and outstanding service levels. Additionally, we are pleased that our loyalty program, MyLowe's Pro Rewards designed specifically for the small to medium Pro continues to resonate with our customers. Combined, these investments are providing the reliability, value and …
