Lowe's Q3 adjusted EPS $3.27, +19.8% YoY; US comps up 3%; raises FY outlook

LOWES COMPANIES INC

2022-Q3 EPS reported $8.53 revenue$74,614,000,000

Adjusted diluted EPS $3.27 (ex $2.1B Canadian impairment), up 19.8% YoY; GAAP EPS $0.25.
Total sales $23.5B (+2.4% YoY); US comparable sales +3.0%, driven by Pro growth of 19% and Lowes.com +12%.
Adjusted operating margin improved 54 bps to 12.71%; raised full-year 2022 outlook.
Repurchased 20.5M shares for $4.0B; paid $666M in dividends; awarded $200M bonuses and $170M wage increases.
Non-cash impairment of $2.1B on Canadian retail business; Canadian operations under review.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

LOWES COMPANIES INC reported third quarter ended October 28, 2022 results: revenue $23.5 billion, net income $154 million, EPS $0.25. Guidance raised.

Period: third quarter ended October 28, 2022
Revenue: $23.5 billion
Net income: $154 million
EPS: $0.25
Guidance: raised
Result: reported results

Exact text from the filing

Lowe’s Companies, Inc. (NYSE: LOW) today reported net earnings of $154 million and diluted earnings per share (EPS) of $0.25 for the quarter ended Oct. 28, 2022, which included a pre-tax non-cash asset impairment charge of $2.1 billion related to its Canadian retail business, compared to diluted EPS of $2.73 in the third quarter of 2021 . Excluding the impairment charge, third quarter adjusted diluted EPS 1 increased 19.8% to $3.27 compared to the prior year. Total sales for the third quarter were $23.5 billion compared to $22.9 billion in the third quarter of 2021, and comparable sales increased 2.2%.

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Source: SEC EDGAR

accession 0000060667-22-000166

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