Lowe's (LOW) official guidance

We also continue to expect capital expenditures of up to $2.5 billion.

We finished the quarter with adjusted debt to EBITDA of 3.0x as we progress towards our 2.75x leverage ratio target, which we expect to achieve in mid-2027.

We expect sales of approximately $92 billion with roughly flat comparable sales, and we expect adjusted operating margin of approximately 11.6% and full-year adjusted diluted earnings per share of approximately $12.25.

For the third quarter, we expect comp sales to be in line with our full-year outlook and adjusted diluted earnings per share to be approximately 7% below prior-year adjusted diluted earnings per share.

We expect sales of approximately $92 billion with roughly flat comparable sales, and we expect adjusted operating margin of approximately 11.6% and full-year adjusted diluted earnings per share of approximately $12.25.

We expect sales of approximately $92 billion with roughly flat comparable sales, and we expect adjusted operating margin of approximately 11.6% and full-year adjusted diluted earnings per share of approximately $12.25.

For the third quarter, we expect comp sales to be in line with our full-year outlook and adjusted diluted earnings per share to be approximately 7% below prior-year adjusted diluted earnings per share.

As we push out to Q4, it is implied negative.

We expect sales of approximately $92 billion with roughly flat comparable sales, and we expect adjusted operating margin of approximately 11.6% and full-year adjusted diluted earnings per share of approximately $12.25.

•Effective income tax rate of approximately 24.5%

•Diluted earnings per share of approximately $11.75 (previously $11.75 to $12.25)

•Net interest expense of approximately $1.6 billion

•Operating income as a percentage of sales (operating margin) of 11.2% (previously 11.2% to 11.4%)

This results in first half sales and adjusted diluted earnings per share essentially in line with our expectations from the start of the year.

Additionally, we expect adjusted diluted earnings per share in the second quarter to be approximately 2% below prior year adjusted diluted earnings per share.

We expect second quarter adjusted operating margins to be pressured from the impact of acquisitions, which we will begin to anniversary in the second half of the year, investments in our sales-driving actions, which are more focused in the second quarter due to our mix into the spring season and key holidays, and near-term pressure from higher transportation costs that we are actively working to offset through productivity initiatives in the back half of the year.

Based on this, we expect second quarter comp sales to be roughly in line with the midpoint of our full-year guide.

This results in first half sales and adjusted diluted earnings per share essentially in line with our expectations from the start of the year.

We expect gross margin to decline approximately 75 basis points compared to the prior year when we factor in the dilution related to the acquisitions.

We will continue to drive our perpetual productivity improvement, or PPI initiatives, across the enterprise with a target of roughly $1 billion of productivity again this year.

Please note that this includes the impact of FBM, which is roughly neutral to adjusted EPS, and we expect capital expenditures of up to $2.5 billion for the year.

We're expecting adjusted diluted earnings per share of approximately $12.25, which represents a 2% growth over the prior year.

The structure of this financing in conjunction with the timing of our existing bond maturities will allow for steady deleverage to our 2.75x target, which is expected by mid-2027.

We also now expect full year adjusted operating margin of approximately 12.1%, which includes 20 basis points of dilution from FBM and ADG.

On an annualized basis, we expect FBM and ADG to negatively impact consolidated adjusted operating margin by approximately 50 basis points.

We're now expecting comp sales to be roughly flat for the year, which is at the bottom end of our previous guidance.

When we include FBM sales of approximately $1.3 billion in the fourth quarter, we are expecting sales of approximately $86 billion for the year.

When we include FBM sales of approximately $1.3 billion in the fourth quarter, we are expecting sales of approximately $86 billion for the year.

Effective income tax rate of approximately 24.0% (previously 24.5%)

Net interest expense of approximately $1.4 billion (previously $1.3 billion)