Lowe's(LOW) - 2025 Q2 - Quarterly Results

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]