Lowe's Cos. (NYSE: LOW) shares are on watch following solid Q1 results from peer Home Depot (NYSE: HD).

Home Depot reported Q1 EPS of $1.44 and revenue of $22.8 billion, compared with consensus estimates calling for EPS of $1.35 and revenue of $22.4 billion. Comps rose 6.5% and the retailer boosted its FY16 outlook.

Lowe's will post Q1 results before markets open on May 18th.