---
schema_version: "secwatch.filing_event.v1"
accession: "0000060667-23-000079"
form_type: "8-K"
ticker: "LOW"
cik: "0000060667"
company_name: "LOWES COMPANIES INC"
filed_at: "2023-05-23T23:59:59+00:00"
generated_at: "2026-06-14T17:35:40.768400+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Lowe's Q1 diluted EPS $3.77, comp sales -4.3%; cuts FY2023 outlook

## Summary
- Q1 diluted EPS $3.77 (adjusted $3.67, +5% YoY); net earnings $2.3B.
- Total sales $22.3B (incl ~$735M timing shift from 53-week year); comp sales -4.3%.
- Pro and online comps positive; FY2023 outlook lowered due to softer DIY discretionary demand and lumber deflation.
- Returned $2.8B to shareholders: $2.1B share repurchases (10.6M shares) and $633M dividends.
- Adjusted operating margin improved to 14.4% (+47bps); gross margin 33.7% (-35bps).

## SEC filing metadata
- accession: 0000060667-23-000079
- form_type: 8-K
- ticker: LOW
- cik: 0000060667
- company_name: LOWES COMPANIES INC
- filed_at: 2023-05-23T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/60667/000006066723000079/0000060667-23-000079-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/60667/000006066723000079/low-20230523.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000060667-23-000079
- JSON: https://secwatch.observer/filing/0000060667-23-000079.json
- Plain text: https://secwatch.observer/filing/0000060667-23-000079.txt

## Key facts
- Earnings Releases
  LOWES COMPANIES INC reported first quarter ended May 5, 2023 results: revenue $22.3 billion, net income $2.3 billion, EPS $3.77.
  - Period: first quarter ended May 5, 2023
  - Revenue: $22.3 billion
  - Net income: $2.3 billion
  - EPS: $3.77
  - Result: reported results
  source text: MOORESVILLE, N.C., May 23, 2023 – Lowe’s Companies, Inc. (NYSE: LOW) today reported net earnings of $2.3 billion and diluted earnings per share (EPS) of $3.77 for the quarter ended May 5, 2023, compared to diluted EPS of $3.51 in the first quarter of 2022 . During the first quarter, the company recognized a gain associated with the 2022 sale of the Canadian retail business. This positively impacted first quarter diluted EPS by $0.10. Excluding this benefit, the company delivered adjusted diluted EPS 1 of $3.67, an increase of 5% compared to prior year. Total sales for the quarter were $22.3 billion 2 .
  evidence_url: https://www.sec.gov/Archives/edgar/data/60667/000006066723000079/0000060667-23-000079-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.