Lowe’s net earnings for the first quarter of 2018 grew 64 percent compared with the same period last year, increasing from $602 million to $988 million.
The company’s sales grew 3 percent compared with the first quarter of 2017, from $16.9 billion to $17.4 billion. Comparable sales increased 0.6 percent.
“We drove solid performance in indoor categories and continued to grow our sales to Pro customers,” President and CEO Robert Niblock said in a statement. Poor weather during the quarter impacted sales for outdoor categories and created a delay in spring sales, Niblock said.
“Spring has now arrived and we are encouraged by strong sales in the month of May,” he added.
The company operated 2,154 locations in the U.S., Canada and Mexico as of May 4.
