Lowe’s Companies (NYSE:LOW) reported first-quarter results that aligned with expectations, as resilient professional demand and e-commerce strength helped offset weather-related sales softness. Net sales totaled $20.93 billion for the quarter ended May 2, in line with Bloomberg consensus and slightly down from $21.36 billion a year earlier.
Comparable sales declined 1.7%, largely attributed to unfavorable weather, though this was partially balanced by strength in services targeting construction professionals and solid online performance.
Gross profit fell 1.5% year-over-year to $6.99 billion, slightly ahead of analyst forecasts of $6.96 billion.
Despite acknowledging near-term uncertainty and ongoing housing market pressure, the company reiterated its full-year guidance for both sales and earnings, signaling confidence in its operating strategy and demand stabilization efforts.