Sales Performance - Q2 2024 total sales were $23.6 billion, a decrease from $25.0 billion in the prior-year quarter[1] - Comparable sales decreased by 5.1% in Q2 2024, driven by reduced DIY discretionary spending and unfavorable weather[1] - Full-year 2024 total sales outlook updated to $82.7 to $83.2 billion, down from the previous $84 to $85 billion[5] - Full-year 2024 comparable sales expected to decline by -3.5% to -4.0%, compared to the prior estimate of -2% to -3%[5] - Pro customer segment showed mid-single-digit positive comparable sales in Q2 2024[2] Earnings and Profitability - Adjusted diluted EPS for Q2 2024 was $4.10, compared to $4.56 in Q2 2023[1] - Adjusted diluted EPS for full-year 2024 is projected to be $11.70 to $11.90, down from the previous $12.00 to $12.30[5] - Net earnings for the three months ended August 2, 2024, were $2.383 billion, representing 10.10% of sales[14] - Comprehensive income for the six months ended August 2, 2024, was $4.132 billion, or 9.19% of sales[14] - Adjusted diluted earnings per share for the three months ended August 2, 2024, was $4.10, excluding a $43 million pre-tax gain from the Canadian retail business transaction[21] Capital Allocation and Share Repurchases - The company repurchased 4.4 million shares for $1.0 billion and paid $629 million in dividends during Q2 2024[3] - Repurchases of common stock for the six months ended August 2, 2024, totaled $1.930 billion[18] Financial Position and Cash Flow - Cash and cash equivalents increased to $4.360 billion as of August 2, 2024, compared to $3.494 billion on August 4, 2023[16] - Merchandise inventory decreased to $16.841 billion as of August 2, 2024, from $17.422 billion on August 4, 2023[16] - Net cash provided by operating activities for the six months ended August 2, 2024, was $7.415 billion[18] - Long-term debt, excluding current maturities, decreased to $34.659 billion as of August 2, 2024, from $35.839 billion on August 4, 2023[16] - Total assets increased to $44.934 billion as of August 2, 2024, from $44.521 billion on August 4, 2023[16] Capital Expenditures - Capital expenditures for full-year 2024 are estimated at $2 billion[5] - Capital expenditures for the six months ended August 2, 2024, were $808 million[18] Store Operations - The company operated 1,746 stores with 194.9 million square feet of retail selling space as of Aug. 2, 2024[2]

Lowe's (LOW) came out with quarterly earnings of $4.10 per share, beating the Zacks Consensus Estimate of $3.96 per share. This compares to earnings of $4.56 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 3.54%. A quarter ago, it was expected that this home improvement retailer would post earnings of $2.94 per share when it actually produced earnings of $3.06, delivering a surprise of 4.08%.Over the last four quarters, the co ...

Lowe's on Tuesday cut its full-year forecast, as the home improvement retailer's quarterly sales declined and it said it expects spending on do-it-yourself projects to weaken.The company said it now expects total sales of between $82.7 to $83.2 billion for the full year, compared with the $84 billion to $85 billion that it previously expected. It said it expects comparable sales to fall by 3.5% to 4%, compared to its prior forecast of a decline of 2% to 3%. It anticipates adjusted earnings per share will be ...

— Diluted EPS of $4.17; Adjusted Diluted EPS1 of $4.10 —— Comparable Sales Decreased 5.1% — — Updates Full Year 2024 Outlook —MOORESVILLE, N.C., Aug. 20, 2024 /PRNewswire/ -- Lowe's Companies, Inc. (NYSE: LOW) today reported net earnings of $2.4 billion and diluted earnings per share (EPS) of $4.17 for the quarter ended Aug. 2, 2024, compared to diluted EPS of $4.56 in the second quarter of 2023. During the second quarter, the Company recognized a $43 million pre-tax gain associated with the 2022 sale of th ...

Lowe's Companies, Inc. LOW is set to release earnings results for its second quarter, before the opening bell on Tuesday, Aug. 20.Analysts expect the Mooresville, North Carolina-based company to report quarterly earnings at $3.97 per share, down from $4.56 per share in the year-ago period. Lowe's projects to report quarterly revenue of $23.91 billion for the quarter, according to data from Benzinga Pro.On Aug. 14, Telsey Advisory Group analyst Joseph Feldman maintained Lowe’s Companies with a Market Perform ...

CHINA - 2024/07/27: In this photo illustration, Lowe's logo is displayed on a smartphone with a ... [+] laptop keyboard background. (Photo Illustration by Serene Lee/SOPA Images/LightRocket via Getty Images)SOPA Images/LightRocket via Getty ImagesLowe’s (NYSE: LOW), a home-improvement retailer, is scheduled to report its fiscal second-quarter results on Tuesday, August 20. We expect the company’s stock to likely see little to no movement with revenue and earnings matching market expectations in the fiscal s ...

Lowe’s Companies, Inc. LOW is set to release earnings results for its second quarter, before the opening bell on Tuesday, Aug. 20.Analysts expect the Mooresville, North Carolina-based company to report quarterly earnings at $3.97 per share, down from $4.56 per share in the year-ago period. Lowe’s projects to report quarterly revenue of $23.91 billion for the quarter, according to data from Benzinga Pro.With the recent buzz around Lowe’s, some investors may be eyeing potential gains from the company's divide ...

Klaus Vedfelt Introduction It's been quite a while since I last covered Lowe's Companies, Inc. (NYSE:LOW), the second-largest home improvement retailer in the U.S. (and globally), behind The Home Depot, Inc. (HD). I compared the two retailers for the first time in early 2023 and highlighted four key implications of interest rates on the U.S. home improvement industry in May 2023. My last article on Lowe's was published last November, when I still rated LOW stock a solid buy. Since then, the stock has return ...

Wall Street analysts expect Lowe's (LOW) to post quarterly earnings of $3.96 per share in its upcoming report, which indicates a year-over-year decline of 13.2%. Revenues are expected to be $23.92 billion, down 4.2% from the year-ago quarter.The consensus EPS estimate for the quarter has been revised 1% lower over the last 30 days to the current level. This reflects how the analysts covering the stock have collectively reevaluated their initial estimates during this timeframe.Prior to a company's earnings r ...

Wall Street expects a year-over-year decline in earnings on lower revenues when Lowe's (LOW) reports results for the quarter ended July 2024. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates.The earnings report, which is expected to be released on August 20, 2024, might help the stock move higher if these key numbers are better than expectations. ...