Lowe's Companies, Inc. released its first quarter 2022 financial results. Here are the key points: - Net earnings for the quarter were $2.3 billion, in line with the prior year, with diluted earnings per share (EPS) of $3.51. - Total sales for the first quarter were $23.7 billion, a decrease of 4.0% from the prior year. Comparable sales decreased by 4.0%, with a 3.8% decrease in the U.S. home improvement business. - The company's operating income improved by 65 basis points to $3.3 billion. - Lowe's expects total sales of $97 billion to $99 billion for the full year 2022, with comparable sales expected to range from a decline of 1% to an increase of 1%. - The company is affirming its outlook for the operating results of Full Year 2022. - During the quarter, Lowe's repurchased approximately 19 million shares for $4.1 billion and paid $537 million in dividends. - As of April 29, 2022, Lowe's operated 1,971 home improvement and hardware stores in the United States and Canada, representing 208 million square feet of retail selling space.