CLAIM #37908 · Lowe's Companies Inc (LOW) · 2022Q1 earnings call · May 18, 2022 · due Aug 17, 2022
“Brian, that's correct. It's fair to assume that the $350 million would shift in fall of Q2.”
Brandon Sink · CFO
In context
“nd: Brian, I'll just add one additional comment there. If you look at our Pro growth that Marvin mentioned earlier at 20%, and then you look at the strength and the health of that Pro -- strong Pro market trends we're seeing, our revamped Lowe's Pro offering, the expanded Pro product that Bill mentioned earlier in his prepared remarks, the deeper inventory and then the launch of our new MVP program. And so I think we've got good confidence in the underlying trends there. Brian Nagel: That's all very helpful. I appreciate it. And I guess just one really quick follow-up. So as we think about these seasonal sales and the weakness that happened in Q1, is it fair to assume that basically, all the sales should be made up here in Q2? In other words, there's really no lost demand? Brandon Sink: Brian, that's correct. It's fair to assume that the $350 million would shift in fall of Q2. Operator: Your next question is coming from Simeon Gutman from Morgan Stanley. Simeon Gutman: So the first quarter earnings, at least beat the Street handily and you're not making any change to the year. I think the second quarter, it sounds like you'll make up some sales. And so the first half will be the same. The fact that first quarter was better, did it -- and by the way, no one is getting paid or rewarded for raising any outlook. So I guess, implicitly, it means that something was taken out. I don't know if that's the right way to think of it or just there's conservatism. So curious your thoughts around that? And anything that is changing in the second half, the way you're looking at the business since you have some head start here in the first quarter. Brandon Sink: Yes. So Sime”
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SEC filings for LOW ↗ · Claim quote is verbatim from the 2022Q1 earnings call.