LOW buybacks continue
LOW $Lowe's(LOW)$ buybacks continue
$5.9 B in buybacks YTD
Since FY16
>$52 B in buybacks
34% of shares outstanding bought back
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LOW in recent years has relied on debt to fund buybacks
Debt has doubled since FY19
FY23 YTD net debt increased ~$2.1 B
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LOW has guided to $7 B net debt increase for FY23-25
If evenly distributed that would be $2.3 B/year Current year seems on track or slightly above that
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LOW is having a rough FY23 and just lowered FY revenue guidance over 3Q
The company last year modeled $87 B FY revenue as a weak market
It just lowered guidance to $86 billion
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https://twitter.com/DividendWave/status/1727792198438244588
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