Lowe’s Companies, Inc. (NYSE: LOW) reported third quarter 2023 earnings results today.
Net sales were $20.5 billion compared to $23.5 billion in the same period a year ago. Comparable sales decreased 7.4%.
GAAP net earnings were $1.7 billion, or $3.06 per share, compared to $154 million, or $0.25 per share, last year.
Earnings beat expectations while sales fell short. The retailer also lowered its full-year guidance.
For the full year of 2023, the company expects total sales of approx. $86 billion and adjusted EPS of approx. $13. Comparable sales are expected to be down approx. 5%.
The stock was down 4% in premarket hours on Tuesday.
Prior performance
Listen to the conference calls as they happen. Don't miss a beat! With AlphaStreet Intelligence, you can listen to live calls and interviews as they happen, so you never have to worry about missing out on important information.
Most Popular
Key highlights from Eli Lilly’s (LLY) Q1 2024 earnings results
Eli Lilly and Company (NYSE: LLY) reported first quarter 2024 earnings results today. Worldwide revenue was $8.77 billion, up 26% from the year-ago quarter, driven by increases of 16% in
PYPL Earnings: PayPal reports higher revenue and profit for Q1 2024
PayPal Holdings Inc. (NASDAQ: PYPL) announced financial results for the first quarter of 2024, reporting an increase in revenues and adjusted profit. The top line also exceeded analysts' estimates. First-quarter
MCD Earnings: Key quarterly highlights from McDonald’s Q1 2024 financial results
McDonald's Corporation (NYSE: MCD) reported first quarter 2024 earnings results today. Revenues increased 5% year-over-year to $6.1 billion. Revenue growth was 4% in constant currencies. Net income grew 7% to