Lowe’s Companies, Inc. (LOW) came up with second-quarter fiscal 2024 results, wherein the top line fell short of the Zacks Consensus Estimate, while the bottom line surpassed the same. This Mooresville, NC-based company experienced a year-over-year decline in both metrics and continued with its trend of dismal comparable sales. The drop in big-ticket discretionary spending among Do-It-Yourself customers, along with adverse weather affecting seasonal and other outdoor categories, hurt the company’s performan ...

Tuesday, August 20th, 2024Today, we achieve peak late-August trading. Not in terms of stock market highs — we’re still off mid-June levels — but in terms of low volume, low activity. We remain in the final stages of Q2 earnings season, but aside from a couple speeches by Fed members later today, we have a dearth of potential impacts to the market.This is just as well — it allows hard-working people to enjoy their vacation without worrying about the need to re-route one’s portfolio. Market indexes are flatti ...

The home improvement market could use some improvement itself.That’s the latest from Lowe’s Companies Inc. During its second-quarter 2024 earnings call Tuesday (Aug. 20), the company revised its annual forecasts downward, citing a challenging macroeconomic environment dampening consumer spending on home improvement projects.As a result, and for the sixth straight quarter, Lowe’s posted a year-over-year sales decline.Total sales for the quarter were down 5.1% to $23.6 billion, compared to $25 billion a year ...

Lowe's Companies TodayLOWLowe's Companies$244.22 +1.01 (+0.42%) 52-Week Range$181.85▼$262.49Dividend Yield1.88%P/E Ratio19.62Price Target$250.19Add to WatchlistLowe’s Companies NYSE: LOW stock is in a holding pattern after the Q2 results revealed operational quality offset by a weakened sales outlook. The critical takeaway is that macroeconomic conditions impact sales while operational quality improves. As bad as the guidance seems, it’s not as bad as was feared, and the company is set up to gain leverage w ...

Key TakeawaysLowe's posted weaker-than-expected second quarter sales as discretionary spending on large home improvement projects was lower than the same time last year.Home Depot and Lowe's have been affected by a reduction in big-ticket spending in the home improvement sector as consumers deal with higher prices for essentials.Lowe's lowered its full-year outlooks for both sales and profit, citing the decline in DIY sales and a "pressured macroeconomic environment. Lowe's (LOW) reported weaker-than-expect ...

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 ...