Lowe's Q1 2024 diluted EPS $3.06, sales $21.4B, comps -4.1%

LOWES COMPANIES INC

2024-Q1 EPS reported $3.06 revenue$21,364,000,000

Diluted EPS $3.06 vs $3.77 prior year (incl. Canadian gain); prior-year adjusted EPS $3.67.
Total sales $21.4B, down 4.0% YoY; comparable sales decreased 4.1% on DIY big-ticket weakness.
Gross margin 33.2% (-49 bps); operating margin 12.4% (-229 bps).
Returned $1.4B to shareholders: $743M in buybacks (~3.0M shares) and $633M in dividends.
Affirms full-year 2024 outlook; Pro and online comps positive; DIY loyalty program rolled out nationally.

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