Lowe’s Companies, Inc. (NYSE:LOW) reported stronger-than-expected second-quarter earnings, but revealed a decline in comparable sales and revised its FY24 outlook downward.
The company reported adjusted earnings per share of $4.10, beating the analyst consensus of $3.99. Quarterly revenues totaled $23.586 billion, missing the street view of $24.013 billion.
Comparable sales for the quarter decreased 5.1% driven by continued pressure in DIY bigger ticket discretionary spending and unfavorable weather adversely impacting sales in seasonal and other outdoor categories, partially offset by positive comparable sales in Pro and online.
“As we look ahead, we are confident that we are making the right long-term investments to take share when the ...
