From CNBC: 2025-02-26 06:44:21

Lowe’s exceeded Wall Street’s expectations in Q4 earnings and revenue. Sales are expected to grow modestly in the upcoming year, with full-year total sales projected between $83.5 billion to $84.5 billion. Net income for the quarter was $1.13 billion, with adjusted earnings per share at $1.93. Share prices rose over 2% after the positive outlook.

Comparable sales for Lowe’s rose 0.2% in the quarter, driven by online gains and growth among home professionals. However, there was pressure on discretionary DIY projects. The company’s net sales for the fiscal year totaled $83.67 billion, down 3% from the previous year. Investors are hopeful for improving trends in the home improvement market.

Lowe’s competitor, Home Depot, narrowly beat Q4 estimates and expects consumers to adjust to elevated mortgage rates as the new normal. Lowe’s shares closed at $242.39, down nearly 2% for the year compared to the S&P 500’s 2% gains. Stay tuned for further updates on this breaking news.



Read more at CNBC:: Lowe’s (LOW) Q4 2024 earnings