Lowe's Companies, Inc. (NYSE: LOW ) continues to expand its margins gradually and take market share in the home improvement space. The company benefits from long-term secular tailwinds like aging housing stock, home price appreciation, and rising disposable income; all which promote increased I hold a Master's in Accounting, am a small business owner, and am an assistant investing educator for beginning and intermediate individual investors. My investing analysis focus is on identifying and developing deep ...

MOORESVILLE, N.C., Nov. 19, 2024 /PRNewswire/ -- Lowe's Companies, Inc. (NYSE: LOW) announced today that it will hold its 2024 Analyst and Investor Conference at 8 a.m. Eastern time on Wednesday, Dec. 11 in New York City. The company will provide updates on key growth initiatives and near-term and long-term financial targets.A webcast will be available by visiting the Events & Presentations section of the Lowe's Investor Relations website, ir.lowes.com. Supplemental materials will be available at 6 a.m. ET ...

The home improvement retailer is still facing a serious economic headwind.With nothing more than a quick glance at last quarter's core numbers, shares of Lowe's (LOW -3.57%) should be higher today. Sales as well as earnings were better than expected. Dig deeper, though. Not only were the retailer's revenue and per-share profits down year over year, but the company reported its stores are still suffering shrinking sales, with no real relief in sight. The results were bad enough to leave Lowe's stock down 4% ...

Key TakeawaysBoth of the big retail companies to report third-quarter results Tuesday  morning lifted their full-year outlooks ahead of the busy holiday selling season.Walmart issued a third upgrade to its outlook since February, offering up optimism about net-profit growth. Lowe's said same-store sales were seen falling less than previously expected. Several other retailers are set to report results and, potentially, update their outlooks later this week. Some big retailers are feeling better about the en ...

Lowe's Companies, Inc. (NYSE:LOW) Q3 2024 Results Conference Call November 19, 2024 9:00 AM ET Company Participants Kate Pearlman - Vice President, Investor Relations & Treasurer Marvin Ellison - Chairman & Chief Executive Officer Bill Boltz - Executive Vice President, Merchandising Joe McFarland - Executive Vice President, Stores Brandon Sink - Executive Vice President & Chief Financial Officer Conference Call Participants Peter Benedict - Baird Steven Forbes - Guggenheim Securities Simeon Gutman - Morgan ...

Core Insights - Lowe's Companies, Inc. reported third-quarter fiscal 2024 results that exceeded the Zacks Consensus Estimate for both revenue and earnings, despite year-over-year declines in both metrics and continued weak comparable sales performance [1][3]. Financial Performance - Adjusted earnings per share for the quarter were $2.89, surpassing the Zacks Consensus Estimate of $2.82, but down from $3.06 in the same period last year [3]. - Net sales reached $20,170 million, exceeding the Zacks Consensus Estimate of $19,955 million, but reflecting a 1.5% decline year over year [4]. - Comparable sales fell by 1.1%, showing improvement from a 5.1% decline in the previous quarter, with high-single-digit growth in Pro comparable sales [4]. Profitability Metrics - Gross profit decreased by 1.4% year over year to $6,796 million, with a flat gross margin of 33.7% [5]. - Operating income fell by 5.9% to $2,536 million, and the operating margin shrank by 60 basis points to 12.6% [5]. Financial Health - As of the end of the quarter, the company had cash and cash equivalents of $3,271 million, long-term debt of $32,906 million, and a shareholders' deficit of $13,419 million [6]. - For the nine months ended November 1, 2024, Lowe's generated cash flow from operations of $8,714 million and executed a buyback of approximately 2.9 million shares, totaling $758 million [6]. Fiscal 2024 Outlook - Lowe's revised its fiscal 2024 total sales forecast to a range of $83 billion to $83.5 billion, up from the previous estimate of $82.7 billion to $83.2 billion [7]. - Comparable sales are now expected to decline by 3% to 3.5%, an improvement from the prior forecast of a 3.5% to 4% drop [7]. - The adjusted operating margin is projected to be between 12.3% and 12.4%, slightly down from the previous estimate [7]. - The forecast for adjusted earnings per share has been revised to a range of $11.80 to $11.90, up from the prior projection of $11.70 to $11.90 [8]. Stock Performance - Over the past six months, Lowe's shares have increased by 18.6%, compared to the industry's growth of 20.3% [9].

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 ...