Q1 2026 Lowe's Companies Inc Earnings Call Transcript
Key Points
- Lowe's Companies Inc (LOW) reported sales of $23.1 billion in the first quarter, with comparable sales increasing by 0.6%.
- The company saw strong growth in its Pro, Appliances, Online, and Home Services segments, driven by its Total Home strategy.
- Online sales grew by 15.5%, supported by enhancements in user experience and fulfillment capabilities, including same-day delivery.
- The MyLowe's Pro Rewards program continues to resonate with customers, enhancing loyalty and engagement.
- Lowe's Companies Inc (LOW) is investing $250 million in the Lowe's Foundation to train the next generation of skilled tradespeople, addressing industry labor shortages.
- DIY demand remains under pressure due to a challenging housing environment with elevated interest rates and low housing turnover.
- The company experienced a slow start to the spring season due to February storms, impacting early sales.
- Gross margin decreased by 70 basis points, primarily due to the dilutive impact of recent acquisitions.
- Comparable transactions declined by 0.9%, reflecting continued DIY discretionary pressures.
- Higher transportation costs and macroeconomic uncertainties, including fuel price increases, are expected to pressure margins in the near term.
(video playing)
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.
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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
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