Lowe's Non-GAAP EPS of $2.89 beats by $0.08, revenue of $20.17B beats by $260M

Lowe’s press release (NYSE:LOW): Q3 Non-GAAP EPS of $2.89 beats by $0.08.
Revenue of $20.17B (-1.5% Y/Y) beats by $260M.
Comparable sales for the quarter decreased 1.1%, driven by continued softness in DIY bigger-ticket discretionary demand, which was partly offset by storm-related sales and positive comparable sales in Pro and online.
Full Year 2024 Outlook
- Total sales of $83.0 to $83.5 billion (previously $82.7 to $83.2 billion)
- Comparable sales expected to be down -3.0 to -3.5%, as compared to prior year (previously down -3.5 to -4.0%)
- Adjusted operating income as a percentage of sales (adjusted operating margin) of 12.3 to 12.4% (previously 12.4 to 12.5%)
- Net interest expense of approximately $1.3 billion (previously $1.4 billion)
- Adjusted effective income tax rate of approximately 24.5%
- Adjusted diluted earnings per share of approximately $11.80 to $11.90 (previously $11.70 to $11.90)
- Capital expenditures of approximately $2 billion

Tags: LOW

Lowe’s Non-GAAP EPS of $2.89 beats by $0.08, revenue of $20.17B beats by $260M