Lowe’s Non-GAAP EPS of $4.10 beats by $0.10, revenue of $23.59B misses by $370M

Full Year 2024 Outlook

• Total sales of $82.7 to $83.2 billion (previously $84 to $85 billion).
• Comparable sales expected to be down -3.5 to -4.0% as compared to prior year (previously down -2 to -3%).
• Adjusted operating income as a percentage of sales (adjusted operating margin) of 12.4 to 12.5% (previously 12.6 to 12.7%).
• Net interest expense of approximately $1.4 billion.
• Adjusted effective income tax rate of approximately 24.5% (previously 25%).
• Adjusted diluted earnings per share of approximately $11.70 to $11.90 (previously $12.00 to $12.30).
• Capital expenditures of approximately $2 billion.