Lowe's Q1 diluted EPS $3.77, comp sales -4.3%; cuts FY2023 outlook

LOWES COMPANIES INC

2023-Q1 EPS reported $3.77 revenue$22,347,000,000

Q1 diluted EPS $3.77 (adjusted $3.67, +5% YoY); net earnings $2.3B.
Total sales $22.3B (incl ~$735M timing shift from 53-week year); comp sales -4.3%.
Pro and online comps positive; FY2023 outlook lowered due to softer DIY discretionary demand and lumber deflation.
Returned $2.8B to shareholders: $2.1B share repurchases (10.6M shares) and $633M dividends.
Adjusted operating margin improved to 14.4% (+47bps); gross margin 33.7% (-35bps).

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 first quarter ended May 5, 2023 results: revenue $22.3 billion, net income $2.3 billion, EPS $3.77.

Period: first quarter ended May 5, 2023
Revenue: $22.3 billion
Net income: $2.3 billion
EPS: $3.77
Result: reported results

Exact text from the filing

MOORESVILLE, N.C., May 23, 2023 – Lowe’s Companies, Inc. (NYSE: LOW) today reported net earnings of $2.3 billion and diluted earnings per share (EPS) of $3.77 for the quarter ended May 5, 2023, compared to diluted EPS of $3.51 in the first quarter of 2022 . During the first quarter, the company recognized a gain associated with the 2022 sale of the Canadian retail business. This positively impacted first quarter diluted EPS by $0.10. Excluding this benefit, the company delivered adjusted diluted EPS 1 of $3.67, an increase of 5% compared to prior year. Total sales for the quarter were $22.3 billion 2 .

View on SEC.gov

Browse all earnings releases →

LOWES COMPANIES INC filing history →

Source: SEC EDGAR

accession 0000060667-23-000079

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.