Lowe's said it reported net earnings of $1.0 billion and diluted earnings per share of $1.77 for the quarter ended February 2, 2024, with total sales of $18.6 billion, compared with $22.4 billion in the prior-year quarter.

1. 01

   Lowe's said it reported net earnings of $1.0 billion and diluted earnings per share of $1.77 for the quarter ended February 2, 2024, with total sales of $18.6 billion, compared with $22.4 billion in the prior-year quarter.

2. 02

   The company said comparable sales for Q4 decreased 6.2%, citing a slowdown in DIY demand and unfavorable weather in January. Prior-year quarterly sales included approximately $1.4 billion from the 53rd week and $958 million from its Canadian retail business.

3. 03

   The company said it repurchased approximately 1.9 million shares for $404 million in Q4 and paid $633 million in dividends. For fiscal 2023, it returned $8.9 billion to shareholders through share repurchases and dividends combined.

4. 04

   The company said its annual outlook for fiscal 2024 calls for total sales of $84 to $85 billion, an operating margin of 12.6% to 12.7%, and diluted earnings per share of approximately $12.00 to $12.30.

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Original filing

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