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LOWE'S May 19 , 2021 For 6:00 am ET Release Exhibit 99.1 LOWE'S REPORTS FIRST QUARTER 2021 SALES AND EARNINGS RESULTS - Consolidated Comparable Sales Increased 25.9 % ; U.S. Comparable Sales Increased 24.4 % - Represents U.S. Comparable Sales Increase on a Two - Year Basis of 39.7 % First Quarter Diluted EPS of $ 3.21 MOORESVILLE , N.C. - Lowe's Companies , Inc. ( NYSE : LOW ) today reported net earnings of $ 2.3 billion and diluted earnings per share ( EPS ) of $ 3.21 for the quarter ended April 30 , 2021 compared to net earnings of $ 1.3 billion and diluted EPS of $ 1.76 in the first quarter of 2020. Excluding charges in the prior - year period related to the strategic review of certain operations , first quarter diluted EPS of $ 3.21 increased 81 % from adjusted diluted EPS of $ 1.77 in the first quarter of 2020¹ . Total sales for the first quarter were $ 24.4 billion compared to $ 19.7 billion in the first quarter of 2020 , and comparable sales increased 25.9 % . Comparable sales for the U.S. home improvement business increased 24.4 % for the first quarter . For the fifth consecutive quarter , 100 % of Lowe's stores earned a Winning Together profit - sharing bonus . This payout to front - line hourly associates totals a record $ 152 million , which is $ 70 million above the target level . " Our outstanding performance continued this quarter , as we delivered strong sales growth and operating margin expansion . We delivered over 30 % growth in Pro , over 18 % growth in all 15 U.S. regions , and growth in Canada that outpaced the U.S. , " commented Marvin R. Ellison , Lowe's president and CEO . " I would like to thank our front - line associates for their hard work and commitment to delivering exceptional customer service . Looking forward , I remain confident in our ability to accelerate our market share gains while driving further improvement in operating margin . " Capital Allocation The Company continues to execute a disciplined capital allocation program to deliver long - term , sustainable shareholder value . During the quarter , the Company repurchased 16.8 million shares for $ 3.1 billion , and it paid $ 440 million in dividends . 1 As of April 30 , 2021 , Lowe's operated 1,972 home improvement and hardware stores in the United States and Canada representing 208 million square feet of retail selling space , and it serviced approximately 230 dealer - owned stores . A conference call to discuss first quarter 2021 operating results is scheduled for today , Wednesday , May 19 , at 9:00 am ET . The conference call will be available by webcast and can be accessed by visiting Lowe's website at ir.lowes.com and clicking on Lowe's First Quarter 2021 Earnings Conference Call Webcast . Supplemental slides will be available approximately 15 minutes prior to the start of the conference call . A replay of the call will be archived at ir.lowes.com . Adjusted diluted earnings per share is a non - GAAP financial measure . Refer to the " Non - GAAP Financial Measures Reconciliation " section of this release for additional information as well as reconciliations between the Company's GAAP and non - GAAP financial results .