Lowe's Companies Inc (NYSE:LOW) reported third-quarter adjusted earnings per share of $2.89 on revenue of $20.17 billion, both of which beat Wall Street's estimates And while the home improvement retailer also raised its outlook, it said it expects full-year sales to decline year over year, leading LOW 4.7% lower to trade at $259.02 at last glance.Over in the options pits, intraday volume is running at 4 times the amount that's typically seen at this point in the day. New positions are being sold to open at ...

[Third Quarter 2024 Financial Highlights](index=1&type=section&id=Third%20Quarter%202024%20Financial%20Highlights) Lowe's reported third-quarter 2024 sales of $20.2 billion, with comparable sales down 1.1% due to DIY softness, partially offset by strong Pro and online channel performance Q3 2024 Key Financial Metrics | Metric | Q3 2024 | Q3 2023 | Change | | :--- | :--- | :--- | :--- | | Total Sales | $20.2 billion | $20.5 billion | -1.5% | | Comparable Sales | -1.1% | N/A | N/A | | Net Earnings | $1.7 billion | N/A | N/A | | Diluted EPS | $2.99 | $3.06 | -2.3% | | Adjusted Diluted EPS | $2.89 | N/A | N/A | - Comparable sales decline was driven by softness in DIY bigger-ticket discretionary demand[2](index=2&type=chunk) - Performance was partly offset by storm-related sales and positive comparable sales in Pro and online, which saw high-single-digit positive comps[2](index=2&type=chunk)[3](index=3&type=chunk) - The company recognized a **$54 million** pre-tax gain from the 2022 sale of its Canadian retail business, which positively impacted diluted EPS by **$0.10**[2](index=2&type=chunk) [Capital Allocation](index=1&type=section&id=Capital%20Allocation) Lowe's returned $1.412 billion to shareholders in Q3 through share repurchases and dividends, continuing its capital allocation program Q3 2024 Shareholder Returns | Activity | Amount (in millions) | | :--- | :--- | | Share Repurchases | $758 | | Dividends Paid | $654 | [Lowe's Business Outlook](index=3&type=section&id=Lowe's%20Business%20Outlook) The company updated its full-year 2024 outlook, raising sales forecasts and narrowing comparable sales decline, while slightly lowering adjusted operating margin Full Year 2024 Outlook Update | Metric | Updated FY 2024 Outlook | Previous FY 2024 Outlook | | :--- | :--- | :--- | | Total Sales | $83.0 to $83.5 billion | $82.7 to $83.2 billion | | Comparable Sales | -3.0% to -3.5% | -3.5% to -4.0% | | Adjusted Operating Margin | 12.3% to 12.4% | 12.4% to 12.5% | | Adjusted Diluted EPS | Approx. $11.80 to $11.90 | $11.70 to $11.90 | | Net Interest Expense | Approx. $1.3 billion | Approx. $1.4 billion | | Capital Expenditures | Approx. $2 billion | Approx. $2 billion | [Financial Statements](index=5&type=section&id=Financial%20Statements) This section presents unaudited consolidated financial statements for Q3 and the first nine months of fiscal 2024, including earnings, comprehensive income, balance sheets, and cash flows [Consolidated Statements of Current Earnings (Income Statement)](index=5&type=section&id=Consolidated%20Statements%20of%20Current%20Earnings) For Q3 2024, net sales decreased to $20,170 million from $20,471 million year-over-year, with net earnings also declining to $1,695 million from $1,773 million Q3 Income Statement Highlights (in millions) | Metric | Three Months Ended Nov 1, 2024 | Three Months Ended Nov 3, 2023 | | :--- | :--- | :--- | | Net Sales | $20,170 | $20,471 | | Gross Margin | $6,796 | $6,891 | | Operating Income | $2,536 | $2,696 | | Net Earnings | $1,695 | $1,773 | Nine Months Income Statement Highlights (in millions) | Metric | Nine Months Ended Nov 1, 2024 | Nine Months Ended Nov 3, 2023 | | :--- | :--- | :--- | | Net Sales | $65,120 | $67,775 | | Operating Income | $8,636 | $9,869 | | Net Earnings | $5,833 | $6,706 | [Consolidated Statements of Comprehensive Income](index=5&type=section&id=Consolidated%20Statements%20of%20Comprehensive%20Income) For Q3 2024, comprehensive income was $1,692 million, slightly below net earnings due to cash flow hedges, compared to $1,769 million in the prior-year quarter - Comprehensive income for Q3 2024 was **$1,692 million**, compared to **$1,769 million** for Q3 2023[17](index=17&type=chunk) [Consolidated Balance Sheets](index=6&type=section&id=Consolidated%20Balance%20Sheets) As of November 1, 2024, total assets were $44,743 million, with cash increasing to $3,271 million, and total liabilities at $58,162 million, resulting in a $13,419 million shareholders' deficit Balance Sheet Highlights (in millions) | Account | Nov 1, 2024 | Nov 3, 2023 | | :--- | :--- | :--- | | Cash and cash equivalents | $3,271 | $1,210 | | Merchandise inventory – net | $17,566 | $17,530 | | Total assets | $44,743 | $42,519 | | Long-term debt | $32,906 | $35,374 | | Total liabilities | $58,162 | $57,666 | | Total shareholders' deficit | $(13,419) | $(15,147) | [Consolidated Statements of Cash Flows](index=7&type=section&id=Consolidated%20Statements%20of%20Cash%20Flows) For the nine months ended November 1, 2024, net cash from operations increased to $8,714 million, leading to a net increase in cash and cash equivalents of $2,350 million Nine Months Cash Flow Summary (in millions) | Activity | Nine Months Ended Nov 1, 2024 | Nine Months Ended Nov 3, 2023 | | :--- | :--- | :--- | | Net cash provided by operating activities | $8,714 | $7,032 | | Net cash used in investing activities | $(1,320) | $(1,306) | | Net cash used in financing activities | $(5,044) | $(5,864) | | Net increase/(decrease) in cash | $2,350 | $(138) | | Cash and cash equivalents, end of period | $3,271 | $1,210 | [Non-GAAP Financial Measure Reconciliation](index=8&type=section&id=Non-GAAP%20Financial%20Measure%20Reconciliation) This section reconciles GAAP diluted EPS to non-GAAP adjusted diluted EPS for Q3, adjusting for a $0.10 per share pre-tax gain from the Canadian retail business sale - The company adjusts GAAP results to exclude a pre-tax gain of **$54 million** related to the sale of the Canadian retail business[21](index=21&type=chunk) Q3 2024 EPS Reconciliation | Metric | Per Share Amount ($) | | :--- | :--- | | Diluted EPS, as reported (GAAP) | $2.99 | | Canadian retail business transaction impact | ($0.10) | | Adjusted Diluted EPS (Non-GAAP) | $2.89 | [Disclosure Regarding Forward-Looking Statements](index=4&type=section&id=Disclosure%20Regarding%20Forward-Looking%20Statements) This section provides legal disclaimers for forward-looking statements, cautioning that actual results may differ due to economic conditions, inflation, and housing market risks - The report includes forward-looking statements concerning future financial results, business outlook, and strategic initiatives[11](index=11&type=chunk) - These statements involve risks and uncertainties, including changes in economic conditions, inflation, interest rates, and housing turnover, which could cause actual results to differ[12](index=12&type=chunk)

Lowe's (LOW) came out with quarterly earnings of $2.89 per share, beating the Zacks Consensus Estimate of $2.82 per share. This compares to earnings of $3.06 per share a year ago. These figures are adjusted for nonrecurring items. This quarterly report represents an earnings surprise of 2.48%. A quarter ago, it was expected that this home improvement retailer would post earnings of $3.96 per share when it actually produced earnings of $4.10, delivering a surprise of 3.54%. Over the last four quarters, the c ...

Lowe's (LOW) reported third-quarter results Tuesday morning above analysts' expectations despite "continued softness" in big-ticket discretionary purchases. Lowe's registered $20.17 billion in revenue for the quarter, below the $20.47 billion it reported a year ago but still better than the $19.89 billion consensus estimate of analysts compiled by Visible Alpha. It posted $1.70 billion in net income, or $2.99 per share, better than projections of $1.60 billion and $2.82 per share, respectively. "Our result ...

LOS ANGELES, CALIFORNIA - AUGUST 20: The exterior sign of a Lowe's home improvement store is seen on August 20, 2024 in Los Angeles, California. The company beat fiscal second-quarter earnings expectations, but missed on sales and cut its full-year outlook blaming inflation. (Photo by Eric Thayer/Getty Images)Lowe's beat Wall Street's quarterly earnings expectations on Tuesday, as outdoor do-it-yourself projects, the home professional business and stronger online shopping fueled sales.Yet even with the bett ...

— Diluted EPS of $2.99; Adjusted Diluted EPS1 of $2.89 —— Comparable Sales Decreased 1.1% — — Updates Full Year 2024 Outlook —MOORESVILLE, N.C., Nov. 19, 2024 /PRNewswire/ -- Lowe's Companies, Inc. (NYSE: LOW) today reported net earnings of $1.7 billion and diluted earnings per share (EPS) of $2.99 for the quarter ended Nov. 1, 2024, compared to diluted EPS of $3.06 in the third quarter of 2023. During the third quarter, the company recognized a $54 million pre-tax gain associated with the 2022 sale of the ...

Lowe’s Companies, Inc. LOW will release earnings results for its third quarter, before the opening bell on Tuesday, Nov. 19.Analysts expect the Mooresville, North Carolina-based company to report quarterly earnings at $2.81 per share, down from $3.06 per share in the year-ago period. Lowe’s projects to report quarterly revenue of $19.91 billion, compared to $20.47 billion a year earlier, according to data from Benzinga Pro.On Aug. 20, the company reported adjusted earnings per share of $4.10, beating the an ...

As Lowe's Companies, Inc. (LOW) prepares to unveil its third-quarter fiscal 2024 earnings on Nov. 19 before the opening bell, investors are keenly observing its performance. With a projected decline in the top and bottom-line figures, the upcoming earnings release prompts a critical question: Can Lowe’s meet or exceed expectations despite these anticipated decreases in profitability?The Zacks Consensus Estimate for the to-be-reported quarter’s revenues is pegged at $20 billion, which suggests a drop of 2.5% ...

With a market capitalization of $153.4 billion as of this writing, home improvement retailer Lowe's Companies (NYSE: LOW ) is a giant in its space. In fact, with the exception of The Home Depot ( HD ), whichCrude Value Insights offers you an investing service and community focused on oil and natural gas. We focus on cash flow and the companies that generate it, leading to value and growth prospects with real potential.Subscribers get to use a 50+ stock model account, in-depth cash flow analyses of E&P firms ...

Group 1 - Lowe's Companies is expected to report third-quarter results with analysts predicting a year-over-year decline in sales, despite potential boosts from recent hurricanes [1][2] - The professional contractor market will be a critical area to monitor, as do-it-yourself sales are under pressure from inflation [1][6] - Analysts have mixed views on Lowe's stock compared to Home Depot, with 10 "buy" ratings, 8 "holds," and 1 "sell" rating among the 19 analysts covering Lowe's [3] Group 2 - Lowe's is projected to report sales of $19.89 billion, down from $20.47 billion last year, with net income expected to decline nearly 10% to $1.60 billion, or $2.82 per share [4] - Analysts from Bank of America and Melius Research suggest that Home Depot's earnings may indicate a similar sales boost for Lowe's due to hurricanes affecting Southern states [5] - Melius analysts raised their price target for Lowe's to $310, emphasizing the importance of the professional contractor market amid lower spending on big-ticket and do-it-yourself projects [6][7]