From CNBC: 2024-11-19 08:09:44

Lowe’s exceeded quarterly earnings expectations due to strong outdoor DIY projects, home professional business, and online sales. Sales projections for the year were adjusted to total between $83 billion and $83.5 billion, with a 3% to 3.5% decline in comparable sales. Net income fell in the fiscal third quarter, with comparable sales down 1.1% year over year.

Home Depot reported customers are delaying larger projects and expensive purchases despite Federal Reserve rate cuts. Sales and earnings exceeded expectations, but comparable sales fell for the eighth consecutive quarter. Lowe’s stock has risen 22% this year, closing at $271.77 on Monday with a market value of $154.17 billion.



Read more at CNBC:: Lowe’s (LOW) Q3 2024 earnings