LOWE'S REPORTS FOURTH QUARTER 2024 SALES AND EARNINGS RESULTS

Core Points - Lowe's Companies, Inc. reported net earnings of $1.1 billion and diluted earnings per share (EPS) of$1.99 for the quarter ended January 31, 2025, an increase from diluted EPS of $1.77 in the fourth quarter of 2023 [1][10] - Total sales for the quarter were$18.6 billion, with comparable sales increasing by 0.2%, driven by high-single-digit Pro and online sales, strong holiday performance, and rebuilding efforts post-hurricanes [2][3] - The company recognized an $80 million pre-tax gain from the sale of its Canadian retail business, which positively impacted diluted EPS by$0.06 [1][24] Financial Performance - The adjusted diluted EPS for the fourth quarter of 2024, excluding the gain from the Canadian business sale, was $1.93 [1][27] - Gross margin for the quarter was 32.86$1.83 billion, representing 9.87% of sales, an increase from 9.07% in the prior year [15] Capital Allocation - During the quarter, the company repurchased approximately 5.5 million shares for $1.4 billion and paid$650 million in dividends [4] - For the fiscal year, Lowe's returned $6.5 billion to shareholders through share repurchases and dividends [4] Business Outlook - The company introduced its outlook for fiscal 2025, indicating continued near-term uncertainty in the home improvement market [5] - Expected total sales for fiscal 2025 are projected to be between$83.5 billion and $84.5 billion, with comparable sales anticipated to be flat to up 1% compared to the prior year [11] Operational Highlights - As of January 31, 2025, Lowe's operated 1,748 stores with a total retail selling space of 195 million square feet [3] - The company serves approximately 16 million customer transactions weekly in the United States [8]