1、1 Adjusted diluted earnings per share is a non-GAAP financial measure.Refer to the“Non-GAAP Financial Measure Reconciliation”section of this release for additional information as well as a reconciliation between the companys GAAP and non-GAAP financial results.2 Total first quarter sales includes ap

2、proximately$735 million related to a timing shift in our fiscal calendar as we cycle over a 53-week year.May 23,2023 For 6:00 a.m.ET Release LOWES REPORTS FIRST QUARTER 2023 SALES AND EARNINGS RESULTS Diluted EPS of$3.77;Adjusted Diluted EPS1 of$3.67 Comparable Sales Decreased 4.3%Updates Full Year

3、2023 Outlook MOORESVILLE,N.C.,May 23,2023 Lowes 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

4、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 EPS1 of$3.67,an increase of 5%compared to prior year.Total sales for the quarter were$22.3 billion2.Comparable

5、 sales decreased 4.3%,driven by lumber deflation,unfavorable weather and lower DIY discretionary sales.Comparable sales are based on comparison to weeks 2-14 in 2022.“We are pleased with the performance of our business despite record lumber deflation and unfavorable spring weather.Although we delive

6、red positive comparable sales in Pro and online for the first quarter,we are updating our full-year outlook to reflect softer-than-expected consumer demand for discretionary purchases,”said Marvin R.Ellison,Lowes chairman,president and CEO.“We remain optimistic about the medium-to-long term outlook