Lowe’s reported higher fourth-quarter sales as continued growth in its business supplying professional builders helped it to offset weakness in the home improvement market.
The company reported net income of $999 million, or $1.78 a share, down from $1.13 billion, or $1.99 a share, the year prior.
In the quarter, the company logged $149 million in pre-tax expenses associated with the acquisitions of Foundation Building Materials and Artisan Design Group.
Adjusted earnings were $1.98 a share. Analysts polled by FactSet had expected $1.94 a share.
Sales rose to $20.58 billion from $18.55 billion the year prior. Wall Street had expected $20.34 billion.
Comparable sales rose 1.3%, which the company said was “driven by continued growth in Pro, online, and home services sales, as well as strong holiday performance.” Analysts had expected comparable sales growth of 0.2%.
Lowe’s and Home Depot have both expanded their businesses supplying professional building and repair companies. In October, Lowe’s completed its $8.8 billion acquisition of Foundation Building Materials, marking a significant leap into the professional builder market following large acquisitions by Home Depot.
The company guided for fiscal 2026 sales of $92 billion to $94 billion, comparable sales growth of flat to 2% and adjusted earnings of $12.25 to $12.75 a share.…Read more by