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Lowe's Companies (LOW) Q1 FY26 earnings results (first quarter fiscal 2026)
10-Q filed May 29, 2025
Lowe's Companies (LOW) reported revenue of $20.9B for the first quarter fiscal 2026 (Q1 FY26), -2% from a year earlier and +13% from the quarter before. Operating margin was 11.9%, net earnings $1.6B (7.8% of revenue).
Lowe's Companies, Q1 FY26: revenue $20.9B (-2% year over year), operating margin 11.9%, net earnings $1.6B, operating cash flow $3.4B. The chart follows the revenue to costs, profit and cash.
| Q1 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $20.9B | +13% | -2% |
| Gross profit | $7.0B | +15% | -1% |
| Operating profit | $2.5B | +36% | -6% |
| Net earnings | $1.6B | +46% | -6% |
| Operating cash flow | $3.4B | +271% | -21% |
| Free cash flow | $2.9B | +688% | -26% |
What changed
Revenue was $20.9B in Q1 FY26, down 2% year over year and up 13% from the previous quarter. Home Decor was the largest line at 36% of revenue. Hardlines lost $0.43B year over year (down 6%), 100% of the total change.
Gross margin was 33.4%, up 0.2 points from a year earlier. Operating profit was $2.5B, a 11.9% margin (down 0.5 points year over year). Operating expenses grew 1% against a revenue fall of 2%. Net earnings were $1.6B, down 6% year over year. The effective tax rate was 23.9%.
Operating cash flow was $3.4B (down 21% year over year), 206% of net earnings. Non-cash charges added back $0.51B of depreciation and amortization and $0.06B of share-based compensation. Working capital and other items added $1.2B. Capital expenditures of $0.52B left free cash flow of $2.9B.
Questions
What was Lowe's Companies' revenue in the first quarter fiscal 2026?
Lowe's Companies (LOW) reported revenue of $20.9B for the first quarter fiscal 2026 (Q1 FY26), -2% from a year earlier and +13% from the quarter before.
Was Lowe's Companies profitable in the first quarter fiscal 2026?
Operating profit was $2.5B (11.9% of revenue) and net earnings $1.6B.
Source: Lowe's Companies 10-Q on SEC EDGAR.