Lowe’s Earnings Report

In the fourth quarter, Lowe’s saw a rise in earnings, even with a decrease in sales, thanks to improved gross margin and reduced overhead costs.

Financial Results Overview

• Profit: $1.02 billion, up from $957 million in the same quarter last year.

• Earnings per Share: $1.77, exceeding analysts’ expectations of $1.68.

• Revenue: Decreased to $18.6 billion from $22.45 billion, but beat analyst forecasts of $18.47 billion.

• Comparable Sales: Down by 6.2% during the quarter.

Strategic Moves

Last year’s revenue included approximately $958 million from the company’s Canadian retail business, which was sold off in February.

Future Outlook

• Forecasted Earnings: $12 to $12.30 per share for the upcoming fiscal year.

• Projected Revenue: $84 billion to $85 billion.

• Comparable Sales: Expected to decline by 2% to 3% for the new fiscal year.

Despite challenges, Lowe’s remains optimistic about its financial performance in the coming year.