LOWE'S REPORTS FIRST QUARTER 2024 SALES AND EARNINGS RESULTS

Capital Allocation
The company continues to execute a disciplined capital allocation program to generate long-term, sustainable shareholder value. During the quarter, the company repurchased approximately 3.0 million shares for $743 million, and it paid $633 million in dividends.

The company is affirming its outlook for full year 2024.

Full Year 2024 Outlook

• Total sales of $84 to $85 billion
• Comparable sales expected to be down -2 to -3% as compared to prior year
• Operating income as a percentage of sales (operating margin) of 12.6% to 12.7%
• Interest expense of approximately $1.4 billion
• Effective income tax rate of approximately 25%
• Diluted earnings per share of approximately $12.00 to $12.30
• Capital expenditures of approximately $2 billion

A conference call to discuss first quarter 2024 operating results is scheduled for today, Tuesday, May 21, at 9 a.m. ET. The conference call will be available by webcast and can be accessed by visiting Lowe's website at ir.lowes.com and clicking on Lowe's First Quarter 2024 Earnings Conference Call Webcast. Supplemental slides will be available approximately 15 minutes prior to the start of the conference call. A replay of the call will be archived at ir.lowes.com.

Lowe's Companies, Inc. (NYSE: LOW) is a FORTUNE® 50 home improvement company serving approximately 16 million customer transactions a week in the United States. With total fiscal year 2023 sales of more than $86 billion, Lowe's operates over 1,700 home improvement stores and employs approximately 300,000 associates. Based in Mooresville, N.C., Lowe's supports the communities it serves through programs focused on creating safe, affordable housing and helping to develop the next generation of skilled trade experts. For more information, visit Lowes.com.

This press release includes "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995.  Statements including words such as "believe", "expect", "anticipate", "plan", "desire", "project", "estimate", "intend", "will", "should", "could", "would", "may", "strategy", "potential", "opportunity", "outlook", "scenario", "guidance", and similar expressions are forward-looking statements.  Forward-looking statements involve, among other things, expectations, projections, and assumptions about future financial and operating results, objectives (including objectives related to environmental and social matters), business outlook, priorities, sales growth, shareholder value, capital expenditures, cash flows, the housing market, the home improvement industry, demand for products and services including customer acceptance of new offerings and initiatives, macroeconomic conditions and consumer spending, share repurchases, and Lowe's strategic initiatives, including those relating to acquisitions and dispositions and the impact of such transactions on our strategic and operational plans and financial results.  Such statements involve risks and uncertainties, and we can give no assurance that they will prove to be correct.  Actual results may differ materially from those expressed or implied in such statements.

A wide variety of potential risks, uncertainties, and other factors could materially affect our ability to achieve the results either expressed or implied by these forward-looking statements including, but not limited to, changes in general economic conditions, such as volatility and/or lack of liquidity from time to time in U.S. and world financial markets and the consequent reduced availability and/or higher cost of borrowing to Lowe's and its customers, slower rates of growth in real disposable personal income that could affect the rate of growth in consumer spending, inflation and its impacts on discretionary spending and on our costs, shortages, and other disruptions in the labor supply, interest rate and currency fluctuations, home price appreciation or decreasing housing turnover, age of housing stock, the availability of consumer credit and of mortgage financing, trade policy changes or additional tariffs, outbreaks of pandemics, fluctuations in fuel and energy costs, inflation or deflation of commodity prices, natural disasters, geopolitical or armed conflicts, acts of both domestic and international terrorism, and other factors that can negatively affect our customers.

Investors and others should carefully consider the foregoing factors and other uncertainties, risks and potential events including, but not limited to, those described in "Item 1A - Risk Factors" in our most recent Annual Report on Form 10-K and as may be updated from time to time in Item 1A in our quarterly reports on Form 10-Q or other subsequent filings with the SEC. All such forward-looking statements speak only as of the date they are made, and we do not undertake any obligation to update these statements other than as required by law.      

LOW-IR

Lowe's Companies, Inc. Consolidated Statements of Current Earnings and Accumulated Deficit (Unaudited) In Millions, Except Per Share and Percentage Data
	Three Months Ended
	May 3, 2024				May 5, 2023
Current Earnings	Amount		% Sales		Amount		% Sales
Net sales	$       21,364		100.00		$       22,347		100.00
Cost of sales	14,274		66.81		14,820		66.32
Gross margin	7,090		33.19		7,527		33.68
Expenses:
Selling, general and administrative	4,009		18.77		3,824		17.12
Depreciation and amortization	428		2.00		415		1.85
Operating income	2,653		12.42		3,288		14.71
Interest – net	352		1.65		349		1.56
Pre-tax earnings	2,301		10.77		2,939		13.15
Income tax provision	546		2.56		679		3.04
Net earnings	$         1,755		8.21		$         2,260		10.11
Weighted average common shares outstanding – basic	571				596
Basic earnings per common share (1)	$           3.06				$           3.78 Werbung Mehr Nachrichten zur Lowe's Companies Inc. Aktie kostenlos abonnieren E-Mail-Adresse Bitte überprüfe deine die E-Mail-Adresse. Benachrichtigungen von ARIVA.DE (Mit der Bestellung akzeptierst du die Datenschutzhinweise) -1 Vielen Dank, dass du dich für unseren Newsletter angemeldet hast. Du erhältst in Kürze eine E-Mail mit einem Aktivierungslink. Hinweis: ARIVA.DE veröffentlicht in dieser Rubrik Analysen, Kolumnen und Nachrichten aus verschiedenen Quellen. Die ARIVA.DE AG ist nicht verantwortlich für Inhalte, die erkennbar von Dritten in den „News“-Bereich dieser Webseite eingestellt worden sind, und macht sich diese nicht zu Eigen. Diese Inhalte sind insbesondere durch eine entsprechende „von“-Kennzeichnung unterhalb der Artikelüberschrift und/oder durch den Link „Um den vollständigen Artikel zu lesen, klicken Sie bitte hier.“ erkennbar; verantwortlich für diese Inhalte ist allein der genannte Dritte. Andere Nutzer interessierten sich auch für folgende News 14:19 - dpa-AFX Bundesamt: Nach IT-Panne normalisiert sich Lage 06:30 - Société Générale Société Générale von Scope erneut mit AAA (ZMR) ausgezeichnet 20.07.24 - wallstreet:online ... Auszug aus dem Smart Investor: Walmart, Lidl & Co. Die Erfolgsgeheimnisse der Discounterbranche Spezial am Sonntag    FDA-Studien auf dem Weg, nach Genehmigung könnte diese Aktie in die Höhe schnellen weiterlesen» Anzeige wo-site-teaser-box-17592_site-teaser-box_2024-07-20_09%253A00%253A00_2024-07-21_09%253A00%253A59