Lowe's Q1 EPS $3.51 beats $3.21; sales $23.7B down 4%; affirms FY guidance

LOWES COMPANIES INC

2022-Q1 EPS reported $3.51 revenue$23,659,000,000

Net earnings $2.3B, diluted EPS $3.51 (up 9.3% from $3.21); total sales $23.7B vs $24.4B.
Consolidated comparable sales -4.0%; U.S. comp -3.8% (two-year stack +19.7%). Pro customer sales +20%.
Operating margin 13.96% (+67 bps); gross margin 34.03% (+74 bps).
Affirms FY2022 outlook: sales $97-99B, comp sales -1% to +1%, diluted EPS $13.10-13.60.
Repurchased 19M shares for $4.1B, paid $537M dividends; store count 1,971.

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