Feb 27, 2024 From CNBC:

Lowe’s beats Wall Street’s quarterly earnings and revenue estimates despite decreased home project demand. The company’s fiscal year forecast includes total sales of $84-85 billion, comparable sales expected to drop 2-3%, and earnings per share of around $12-12.30. Net income for Q4 was $1.02 billion, with a 6.2% decline in comparable sales year over year.

During the fourth quarter, Lowe’s spent $404 million on share buybacks and paid $633 million in dividends. Despite a 4% increase in shares this year, the company’s market value stands at about $133 billion. Rival Home Depot reported decreased sales but beat earnings estimates, citing customers delaying big projects due to higher interest rates.

Read more at CNBC:: Lowe’s (LOW) Q4 2023 earnings