Lowe's Q3 Earnings Beat, Comps Decline, FY24 Outlook Revised

Zacks11-19 23:29

Lowe’s Companies, Inc. LOW came up with third-quarter fiscal 2024 results, wherein the top and bottom lines beat the Zack Consensus Estimate. However, the Mooresville, NC-based company faced year-over...

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However, the Mooresville, NC-based company faced year-over...</p>\n\n<a href=\"https://finance.yahoo.com/news/lowes-q3-earnings-beat-comps-152900484.html\">Source Link</a>\n\n</div>\n","source":"yahoofinance","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Lowe's Q3 Earnings Beat, Comps Decline, FY24 Outlook Revised</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nLowe's Q3 Earnings Beat, Comps Decline, FY24 Outlook Revised\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-11-19 23:29 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/lowes-q3-earnings-beat-comps-152900484.html><strong>Zacks</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Lowe’s Companies, Inc. LOW came up with third-quarter fiscal 2024 results, wherein the top and bottom lines beat the Zack Consensus Estimate. However, the Mooresville, NC-based company faced year-over...</p>\n\n<a href=\"https://finance.yahoo.com/news/lowes-q3-earnings-beat-comps-152900484.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"TGT","symbol_name":"塔吉特","start_time":0,"source_url":"https://finance.yahoo.com/news/lowes-q3-earnings-beat-comps-152900484.html","article_id":"2484092019","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/J8GoUpIQJj2rj3oMC9fZbg--~B/aD00MDA7dz02MzU7YXBwaWQ9eXRhY2h5b24-/https://media.zenfs.com/en/zacks.com/f151141816757b508129c9e676699d7a"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2484092019","pubTimestamp":1732030140,"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"LOW’s Quarterly Performance: Key Metrics and Insights. The home improvement retailer posted adjusted quarterly earnings of $2.89 per share, which came ahead of the Zacks Consensus Estimate of $2.82. However, the figure marked a decline from earnings of $3.06 per share reported in the same period last year.Find the latest EPS estimates and surprises on Zacks Earnings Calendar.Net sales of $20,170 million surpassed the Zacks Consensus Estimate of $19,955 million but declined 1.5% year over year. Comparable sales for the quarter fell 1.1%, showing an improvement from the 5.1% decline recorded in the second quarter. While muted demand from DIY customers weighed on comparable sales, the company achieved high-single-digit growth in Pro comparable sales. This performance outpaced our estimate of a 3.1% decline in comparable sales.The gross profit declined 1.4% year over year to $6,796 million, while the gross margin remained flat at 33.7%. We had expected a gross margin expansion of 20 basis ","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{"TGT":"塔吉特","LOW":"劳氏","DG":"美国达乐公司"},"translate_title":"劳氏第三季度盈利超出预期，业绩下降，2024财年前景修正","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"LOW":1,"DG":0.9,"TGT":0.9},"content_text":"Lowe’s Companies, Inc. LOW came up with third-quarter fiscal 2024 results, wherein the top and bottom lines beat the Zack Consensus Estimate. However, the Mooresville, NC-based company faced year-over-year declines in both metrics and extended its streak of soft comparable sales performance.The drop in big-ticket discretionary spending among Do-It-Yourself (DIY) customers hurt the company’s performance. However, this was partly mitigated by storm-related sales and growth in Pro and online comparable sales. The company also witnessed increased demand for smaller-ticket outdoor DIY projects.Considering its third-quarter performance and the expectation of modest storm-related demand in the final quarter, Lowe’s has revised its full-year 2024 operating outlook.\nLOW’s Quarterly Performance: Key Metrics and Insights\nThe home improvement retailer posted adjusted quarterly earnings of $2.89 per share, which came ahead of the Zacks Consensus Estimate of $2.82. However, the figure marked a decline from earnings of $3.06 per share reported in the same period last year.Find the latest EPS estimates and surprises on Zacks Earnings Calendar.Net sales of $20,170 million surpassed the Zacks Consensus Estimate of $19,955 million but declined 1.5% year over year. Comparable sales for the quarter fell 1.1%, showing an improvement from the 5.1% decline recorded in the second quarter. While muted demand from DIY customers weighed on comparable sales, the company achieved high-single-digit growth in Pro comparable sales. This performance outpaced our estimate of a 3.1% decline in comparable sales.The gross profit declined 1.4% year over year to $6,796 million, while the gross margin remained flat at 33.7%. We had expected a gross margin expansion of 20 basis points.The operating income decreased 5.9% to $2,536 million, while the operating margin shrunk 60 basis points to 12.6%. We had envisioned a 70-basis point contraction in the operating margin.\n\nLowe's Companies, Inc. Price, Consensus and EPS Surprise\n  \nLowe's Companies, Inc. price-consensus-eps-surprise-chart | Lowe's Companies, Inc. Quote\n\nLOW’s Financial Health Snapshot\nThis Zacks Rank #3 (Hold) company ended the quarter with cash and cash equivalents of $3,271 million, long-term debt (excluding current maturities) of $32,906 million and shareholders’ deficit of $13,419 million.For the nine months ended Nov. 1, 2024, Lowe’s generated cash flow from operations of $8,714 million. During the quarter, the company executed a buyback of around 2.9 million shares, amounting to $758 million.\nA Sneak Peek Into LOW’s FY24 Outlook\nLowe’s now anticipates fiscal 2024 total sales in the range of $83 billion-$83.5 billion, up from the prior estimate of $82.7 billion to $83.2 billion. Comparable sales are expected to decline by 3% to 3.5%, an improvement from the prior forecast of a 3.5%-4% drop.The adjusted operating margin is projected between 12.3% and 12.4%, slightly down from the previous estimate of 12.4% to 12.5%. The forecast for adjusted earnings per share has been revised to a range of $11.80-$11.90, up slightly from the prior projection of $11.70 to $11.90. Management maintained its capital expenditure plan of approximately $2 billion for fiscal 2024.\nLowe’s Stock Price Performance\nShares of Lowe’s have risen 18.6% in the past six months compared with the industry’s growth of 20.3%.\nDon’t Miss These Solid Bets\nSprouts Farmers SFM, which is engaged in the retailing of fresh, natural and organic food products, currently sports a Zacks Rank #1 (Strong Buy). SFM has a trailing four-quarter earnings surprise of 15.3%, on average. You can see the complete list of today’s Zacks #1 Rank stocks here.The Zacks Consensus Estimate for Sprouts Farmers’ current financial-year sales and earnings implies growth of 12.2% and 29.6%, respectively, from the year-ago reported numbers.Target Corporation TGT, a general merchandise retailer, currently carries a Zacks Rank #2 (Buy). TGT has a trailing four-quarter earnings surprise of 20.3%, on average. The Zacks Consensus Estimate for Target’s current financial-year earnings implies growth of around 6.8% from the year-ago reported numbers.Dollar General DG, a discount retailer, currently carries a Zacks Rank #2. DG has a trailing four-quarter earnings surprise of 2.8%, on average. The Zacks Consensus Estimate for Dollar General’s current financial-year sales suggests growth of around 4.7% from the year-ago reported numbers.\nWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report\nTarget Corporation (TGT) : Free Stock Analysis Report\nDollar General Corporation (DG) : Free Stock Analysis Report\nLowe's Companies, Inc. (LOW) : Free Stock Analysis Report\nSprouts Farmers Market, Inc. (SFM) : Free Stock Analysis Report\nTo read this article on Zacks.com click here.\nZacks Investment Research","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.2","shortVersion":"4.29.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2484092019"}