Categories AlphaGraphs, Earnings, Retail

Infographic: Highlights of Lowe’s Companies (LOW) Q1 2020 earnings results

Lowe’s Companies, Inc. (NYSE: LOW) reported a 28% jump in earnings for the first quarter of 2020 helped by higher revenue. The results reflected the benefits of its retail fundamentals strategy, the improvement in execution, and the resiliency of the home improvement business model.

Lowe's Companies (LOW) Q1 2020 earnings

Given the uncertain economic outlook, the company raised $4 billion in senior unsecured notes and increased the capacity of its revolving credit facilities by $770 million. After repaying $500 million of fixed-rate notes due April 15, 2020, the company now has $6 billion of cash and cash equivalents as well as $3 billion in undrawn capacity on its revolving credit facilities which will be available for any unanticipated liquidity needs.

The company is withdrawing its financial guidance for fiscal 2020. During the quarter, the company also decided to suspend share repurchases and does not expect to repurchase any more shares this year beyond what was executed in the first quarter.

Past Performance

Also Read:  Major earnings conferences to watch this week

Most Popular

COVID-19 drove retailers up the digital path years ahead than anticipated

Earlier we looked into how, during the COVID-19 pandemic, retailers saw changing trends in terms of their assortments and how the acceleration of online shopping led many of them to

Snowflake (SNOW) creates a record as the most successful software IPO ever; stock more than doubles

Data is at the heart of business innovation. Recognizing this trend, companies are seeking ways to transform their businesses by capturing, analyzing, and mobilizing data. The public cloud is becoming

Adobe (ADBE) sees new tailwinds as virtual shift gathers steam

The second half has been highly rewarding for design software maker Adobe Inc. (NASDAQ: ADBE) amid stable demand for digital content solutions. The company has remained unaffected by the virus-related