Lowe's Q3 2023: Comp sales down 7.4%, EPS $3.06 vs $3.27 adj. prior year

LOWES COMPANIES INC

2023-Q3 EPS reported $11.40 revenue$67,775,000,000

Net earnings $1.8B, diluted EPS $3.06; prior-year EPS $0.25 included $2.1B Canadian impairment.
Total sales $20.5B; comparable sales decreased 7.4% due to DIY discretionary spending pullback.
Positive Pro comp sales; store count 1,746 after opening 1 store and 3 outlets.
Returned $2.2B to shareholders through $1.6B share repurchases and $642M dividends.
Full-year 2023 outlook updated; adjusted operating margin +46 bps vs prior year.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 1.0

LOWES COMPANIES INC reported third quarter ended November 3, 2023 results: revenue $20.5 billion, net income $1.8 billion, EPS $3.06.

Period: third quarter ended November 3, 2023
Revenue: $20.5 billion
Net income: $1.8 billion
EPS: $3.06
Result: reported results

Exact text from the filing

related to its Canadian retail business. Excluding the impairment charge in the prior year, third quarter 2022 adjusted diluted EPS 1 was $3.27. Total sales for the quarter were $20.5 billion 2 . Comparable sales decreased 7.4% 3 due to a decline in DIY discretionary spending, partially offset by positive Pro customer comp sales. “In the third quarter, the company

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Source: SEC EDGAR

accession 0000060667-23-000159

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