Lowe's (LOW) reported fiscal Q1 earnings Wednesday of $2.92 per diluted share, down from $3.06 a year earlier.

Analysts polled by FactSet expected $2.87.

Net sales for the quarter ended May 2 were $20.93 billion, down from $21.36 billion a year earlier.

Analysts surveyed by FactSet expected $20.94 billion.

The company continues to expect fiscal 2025 EPS of $12.15 to $12.40 on sales of $83.5 billion to $84.5 billion. Analysts are looking for $12.22 and $84.28 billion, respectively.

Lowe's shares were up 3% in recent premarket activity.