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The Wall Street Journal· 2025-09-25 04:11
A pair of homeowners spent three years and $2 million to turn their Provincetown beach cottage into a year-round home https://t.co/QvZfpuilka ...
Lowe's beats on quarterly earnings, buys home pros business for $8.8 billion
CNBC· 2025-08-20 10:31
Group 1 - Lowe's exceeded Wall Street's earnings expectations, driven by increased demand for home projects during the quarter [1] - The company announced the acquisition of Foundation Building Materials for approximately $8.8 billion to enhance its business with home professionals [1] - Lowe's revised its full-year sales outlook to a range of $84.5 billion to $85.5 billion, up from the previous range of $83.5 billion to $84.5 billion [2] Group 2 - For fiscal Q2, Lowe's reported a net income of $2.4 billion, or $4.27 per share, compared to $2.38 billion, or $4.17 per share, in the same period last year [3] - Revenue for the quarter increased to $29.36 billion, surpassing expectations of $23.96 billion [6] - The company reiterated its comparable sales forecast, expecting them to be flat to up 1% from the prior year [2]
LOWE'S REPORTS SECOND QUARTER 2025 SALES AND EARNINGS RESULTS
Prnewswire· 2025-08-20 10:00
Core Insights - Lowe's Companies, Inc. reported net earnings of $2.4 billion and diluted earnings per share (EPS) of $4.27 for the quarter ended August 1, 2025, an increase from diluted EPS of $4.17 in the same quarter of the previous year [2][16] - Comparable sales increased by 1.1% during the quarter, with total sales reaching $24.0 billion compared to $23.6 billion in the prior-year quarter [3][4] - The company recognized $43 million in pre-tax expenses related to the acquisition of Artisan Design Group (ADG), which negatively impacted diluted EPS by $0.06 [2][21] Financial Performance - Adjusted diluted EPS for the quarter was $4.33, reflecting a 5.6% increase compared to the prior-year adjusted diluted EPS of $4.10 [2][24] - Gross margin for the quarter was $8.1 billion, representing 33.81% of net sales, compared to 33.47% in the prior-year quarter [16] - Operating income was $3.469 billion, with an operating margin of 14.48% for the quarter [16] Capital Allocation - The company invested $1.3 billion in the acquisition of ADG and paid $645 million in dividends during the quarter [5][16] - Cash and cash equivalents at the end of the period were $4.86 billion, an increase from $4.36 billion a year earlier [19][18] Business Outlook - Lowe's updated its full-year 2025 outlook to reflect the inclusion of ADG, maintaining expectations for core business performance [6][12] - The company anticipates total sales for fiscal 2025 to be between $84.5 billion and $85.5 billion, with comparable sales expected to be flat to up 1% compared to the prior year [12][6] Operational Highlights - As of August 1, 2025, Lowe's operated 1,753 stores, representing 195.5 million square feet of retail selling space [4] - The company serves approximately 16 million customer transactions weekly in the United States [10]
