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CLAIM #37917 · Lowe's Companies Inc (LOW) · 2022Q1 earnings call · May 18, 2022 · due Jan 31, 2023

Pro is absolutely going to be expected to outpace DIY, grow 2x that of market, which will translate to our guide of down 1% to up 1%.

Brandon Sink · CFO

PENDING
graded after results covering Jan 31, 2023 are reported

In context

g from Christopher Horvers from JPMorgan. Christopher Horvers: So my first question is just following up on the May commentary. You talked about DIY now running ahead of the total company average comp. If you're still getting 20% growth in Pro backing into that math, that will sort of cleanly get you above the mid-single-digit comp. Is that math reasonable? Brandon Sink: Yes, Chris, this is Brandon. I don't know that we said that DIY is going to be running ahead of Pro in Q2. I would say the majority of the $350 million that we expect to recover is going to be reflected in the DIY business. But the Pro DIY dynamic, certainly unique in Q1, just given the environment we've been in and what we've been cycling, but that breakout in that dynamic, Q2 to Q4 should start to normalize a bit. But Pro is absolutely going to be expected to outpace DIY, grow 2x that of market, which will translate to our guide of down 1% to up 1%. And I'll just remind you, the seasonal performance in the seasonal business through the first couple of weeks outperforming expectations in the balance of the business. So that's how I would answer your question. Christopher Horvers: Okay. Sorry, I thought you said outperforming the company average. It was outperforming expectations. Brandon Sink: Correct. Correct. Christopher Horvers: Got it. All right. Sorry about that. And then in terms of -- Marvin, in the press release, it seems like you added just a line around sort of increased macro uncertainty. To an earlier question, you mentioned not seeing any trade down effect in a very responsive business to the weather. So can you expand on that? Is there something you are observing? Is it just simply given all the puts and takes on the

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SEC filings for LOW · Claim quote is verbatim from the 2022Q1 earnings call.