Key moments
- Lowe’s projects full-year sales to range from $83.5 billion to $84.5 billion.
- The company experienced a surge of over 3% in its share price after posting positive outlooks.
- Lowe’s shares closed at $242.39 on Tuesday for a 2% decline for the year.
Lowe’s, the second-largest hardware retailer in the US, has demonstrated a robust financial performance in its fourth quarter, surpassing Wall Street’s projections for both earnings and revenue, and projecting potential sales growth for the upcoming fiscal year. The company’s latest financial results, released today, revealed adjusted earnings per share of $1.93, exceeding the anticipated $1.84.
Furthermore, the company reported revenue of $18.55 billion for the quarter, which also surpassed the forecasted $18.29 billion. This positive financial report, coupled with an optimistic outlook, has led to a notable increase of over 3% in Lowe’s share value during premarket trading on Tuesday, reflecting investor confidence in the company’s future prospects.
Looking ahead, Lowe’s has provided a sales forecast for the 2025 fiscal year, anticipating total sales to range between $83.5 billion and $84.5 billion. This projection indicates the potential for growth compared to the $83.67 billion reported for the 2024 fiscal year. In addition, the company forecasts comparable sales to remain flat or increase by up to 1%, with projected earnings per share ranging from $12.15 to $12.40.
During the fourth quarter, Lowe’s reported net income of $1.13 billion, equivalent to $1.99 per share, compared to $1.02 billion, or $1.77 per share, in the same period of the previous year. While the company’s annual revenue experienced a slight decline, it achieved a 0.2% increase in comparable sales during the fourth quarter, effectively ending a streak of eight consecutive quarters of declining comparable sales.
The comparative sales growth was attributed to growth in online sales, strong performance in sales to professional customers, and increases related to hurricane rebuilding efforts. However, the company also noted that these gains were partially offset by continued pressure on discretionary do-it-yourself projects. It is also important to note that the adjusted earnings per share number excludes a one time gain from a previous business sale.
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