secwatch.observer — SEC 8-K summary
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Issuer:     LOWES COMPANIES INC (LOW)
CIK:        0000060667
Form:       8-K
Filed at:   2023-05-23T23:59:59+00:00
Accession:  0000060667-23-000079
Event type: earnings
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/60667/000006066723000079/0000060667-23-000079-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/60667/000006066723000079/low-20230523.htm
  HTML page:      https://secwatch.observer/filing/0000060667-23-000079

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer