Marvin Ellison on acquisitions
From Lowe's Companies Inc ($LOW) Q1 2027 Earnings Call · · Castify Earnings Call
“We estimate that there's going to be roughly 12 million new homes needed by the year 2033. And historically, Lowe's has generated zero revenue in the new home or multi-family construction projects. And we estimate that's roughly a $250 billion total addressable market. So these two acquisitions we believe puts us in a really good position as this building phase starts to have what we have described as an interior solutions platform for residential and commercial builders.”
On , Marvin Ellison, President, Chief Executive Officer & Chairman at Lowe's Companies Inc, spoke about acquisitions during Lowe's Companies Inc ($LOW) Q1 2027 Earnings Call on Castify Earnings Call.
About Marvin Ellison
Marvin Ellison, chairman and chief executive officer of Lowe’s, said during the company’s first quarter 2026 earnings call that the housing market has been the most difficult he has faced since the financial crisis, with pressure falling disproportionately on the do-it-yourself customer. He described the current economy as “K-shaped,” where higher-income consumers continue to spend while lower-income consumers are more cautious. Ellison noted that Lowe’s has delivered four consecutive quarters of positive comparable sales despite these headwinds and said the company is focused on gaining market share in a flat market. He also highlighted the company’s acquisitions of Foundation Building Materials and another firm, stating that they position Lowe’s to enter the new home and multi-family construction market, which he estimated represents a $250 billion total addressable market. In April 2026, Ellison discussed the launch of a new subscription service called HomeCare+ on CNBC’s Squawk Pod. He described the $99-per-year program as providing two annual home visits from trained Lowe’s associates for tasks such as changing hard-to-reach light bulbs and checking smoke detector batteries. Ellison also pointed to a $250 million investment by the Lowe’s Foundation to train skilled tradespeople, calling the labor shortage a potential national security issue. He stated that the company has diversified its sourcing so that roughly 60% of goods come from the U.S., down from a higher reliance on China seven years ago.