LOW

Lowe’s Companies, Inc. (NYSE: LOW) is a FORTUNE(R) 50 home improvement company serving approximately 17 million customer transactions a week in the U.S. With total fiscal year 2022 sales of over $97 billion, approximately $92 billion of sales were generated in the U.S., where Lowe’s operates over 1,700 home improvement stores and employs approximately 300,000 associates. Based in Mooresville, N.C., Lowe’s supports the communities it serves through programs focused on creating safe, affordable housing and helping to develop the next generation of skilled trade experts. For more information, visit Lowes.com.

Lowe’s (NYSE:LOW) Fiscal Q1 Adjusted Earnings Rise While Sales Drop; Lowers Fiscal 2023 Guidance

Lowe’s (NYSE:LOW)  reported fiscal Q1 adjusted earnings  of $3.67 per diluted share, up 5% from a year earlier. Analysts polled by Capital IQ expected $3.45. Net sales for the quarter ended May 5 totaled $22.35 billion, down from $23.66 billion a year earlier. Analysts surveyed by Capital IQ projected $21.68 billion. The home-improvement retailer said its fiscal Q1 comparable sales decreased 4.3%. Analysts polled by Capital IQ expected a decrease of about 3.4%. Lowe’s said it now expects fiscal 2023 adjusted EPS of $13.20 to $13.60, compared with its prior guidance of $13.60 to $14. Sales for the fiscal year are now projected to be in the range of $87 billion to $89 billion, compared with $88 billion to $90 billion previously, the company said. Analysts polled by Capital IQ expect fiscal 2023 normalized EPS of $13.64 on revenue of $88.57 billion.

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