Lowe’s Companies, Inc. (NYSE: LOW) reported second quarter 2023 earnings results today.
Total sales were $25 billion compared to $27.4 billion in the same period a year ago. Comparable sales decreased 1.6%.
Net earnings were $2.7 billion, or $4.56 per share, compared to $3 billion, or $4.67 per share, last year.
Earnings beat expectations while revenue came in line with estimates.
For the full year of 2023, total sales are expected to be approx. $87-89 billion. Comparable sales are expected to be down 2-4% from last year. Adjusted EPS is estimated to range between $13.20-13.60.
The stock was up over 2% in premarket hours on Tuesday.