Lowe's shares rose as much as 7 percent in premarket trading on Wednesday. (Click here for the latest quote.)
The company said its net sales rose 5.6 percent to $11.66 billion in the fourth-quarter ended January 31. Analysts on average were expecting sales of $11.67 billion, according to Thomson Reuters I/B/E/S.
Lowe's posted a 3.9 percent rise in comparable store sales.
Home Depot reported a 3 percent decline in overall sales on Tuesday, which some analysts viewed as an indication that the recent U.S. housing recovery was losing momentum.
Lowe's said it expects 2014 total sales to rise by about 5 percent. That translates to about $56.07 billion.