The home improvement sector is getting its affairs in order while eyeing a macro improvement.That’s the news from home improvement retailer Lowe’s, which cited softer demand and ongoing headwinds — including a slowdown in home sales, higher interest rates and a pullback in consumer spending — during a first-quarter 2024 earnings call Tuesday (May 21).Still, the company beat Wall Street’s expectations for the quarter and stressed to investors that it was making investments into digital and omnichannel opport ...

Lowe’s Companies, Inc. (LOW) came up with first-quarter fiscal 2024 results, wherein the top and bottom lines beat the respective Zacks Consensus Estimate. However, the company experienced a year-over-year decline in both metrics. The reduction in Do-It-Yourself (DIY) big-ticket discretionary spending did hurt the company’s performance to an extent. However, favorable comparable sales in Pro and online helped mitigate the impact.This Mooresville, NC-based company implemented a new DIY loyalty program on a n ...

Key PointsLowe's had a decent quarter, outperforming expectations and reaffirming guidance. Cash flow remains solid and allows for repurchases and dividends while improving the balance sheet. Analysts are leading this market to a new high that may be reached before the end of the year. 5 stocks we like better than Lowe's CompaniesShares of Lowe’s Companies NYSE: LOW corrected to critical support levels ahead of the Q1 release, setting up a buying opportunity confirmed in its aftermath. The results are not s ...

Key TakeawaysLowe's shares rose in pre-market trading Tuesday after the retailer reported first-quarter earnings that beat analysts' estimates, despite declining from the year-ago period amid a pullback in home-improvement spending. The company said growth in digital sales and market share among professional contractors helped partially offset a continued slowdown in sales of big-ticket items.Lowe's affirmed its full year-guidance, projecting revenue and diluted earnings per share (EPS) roughly in line with ...

Exhibit 99.1 May 21, 2024 For 6:00 a.m. ET Release LOWE’S REPORTS FIRST QUARTER 2024 SALES AND EARNINGS RESULTS — Comparable Sales Decreased 4.1%; Diluted EPS of $3.06 — — Affirms Full Year 2024 Outlook — MOORESVILLE, N.C., May 21, 2024 – Lowe’s Companies, Inc. (NYSE: LOW) today reported net earnings of $1.8 billion and diluted earnings per share (EPS) of $3.06 for the quarter ended May 3, 2024, compared to diluted EPS of $3.77 in the first quarter of 2023, which included a gain associated with the 2022 sal ...

Lowe's (LOW) came out with quarterly earnings of $3.06 per share, beating the Zacks Consensus Estimate of $2.94 per share. This compares to earnings of $3.67 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 4.08%. A quarter ago, it was expected that this home improvement retailer would post earnings of $1.68 per share when it actually produced earnings of $1.77, delivering a surprise of 5.36%.Over the last four quarters, the co ...

About this content About Josh Lamb After graduating from the University of Kent in the summer of 2022 with a degree in History, Josh joined Proactive later that year as a journalist in the UK editorial team. Josh has reported on a range of areas whilst at Proactive, including energy companies during a time of global crisis, aviation and airlines as the sector recovers from the pandemic, as well as covering economic, social and governance issues. Read more About the publisher Proactive financial news and ...

— Comparable Sales Decreased 4.1%; Diluted EPS of $3.06 —— Affirms Full Year 2024 Outlook —MOORESVILLE, N.C., May 21, 2024 /PRNewswire/ -- Lowe's Companies, Inc. (NYSE: LOW) today reported net earnings of $1.8 billion and diluted earnings per share (EPS) of $3.06 for the quarter ended May 3, 2024, compared to diluted EPS of $3.77 in the first quarter of 2023, which included a gain associated with the 2022 sale of the Canadian retail business. Excluding this gain, first quarter 2023 adjusted diluted EPS1 was ...

Analyst Estimates for Q1 2024Q4 2023Q1 2023Revenue$21.12 billion$18.6 billion$22.35 billionDiluted EPS$2.93$1.77$3.77Net Income$1.68 billion$1.02 billion$2.26 billion Key Metric: Big-Ticket Spending Like Home Depot, Lowe's could mention a pullback in "big-ticket spending" in its report, as inflation-weary consumers have become less likely to take on significant home-improvement projects. "Macroeconomic factors like persistent inflation and a stagnant housing market continue to make DIY customers and cons ...

BLOOMSBURG, PENNSYLVANIA, UNITED STATES - 2023/05/21: An exterior view of a Lowe's home improvement ... [+] store. Lowe's Companies, Inc. reports quarterly earnings on Tuesday, May 23, 2023. (Photo by Paul Weaver/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 first-quarter results on Tuesday, May 21. We expect the company’s stock to likely see little to no movement with revenue and earnings m ...