{"id":127747,"date":"2024-11-19T19:42:45","date_gmt":"2024-11-19T12:42:45","guid":{"rendered":"https:\/\/hotvideos24.online\/?p=127747"},"modified":"2024-11-19T19:42:45","modified_gmt":"2024-11-19T12:42:45","slug":"lowes-low-q3-2024-earnings","status":"publish","type":"post","link":"https:\/\/hotvideos24.online\/?p=127747","title":{"rendered":"Lowe&#8217;s (LOW) Q3 2024 earnings"},"content":{"rendered":"<p> <script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<\/p>\n<div id=\"RegularArticle-ArticleBody-5\" data-module=\"ArticleBody\" data-test=\"articleBody-2\" data-analytics=\"RegularArticle-articleBody-5-2\"><span class=\"HighlightShare-hidden\" style=\"top:0;left:0\"\/><\/p>\n<div class=\"InlineImage-imageEmbed\" id=\"ArticleBody-InlineImage-108027686\" data-test=\"InlineImage\">\n<div class=\"InlineImage-wrapper\">\n<div>\n<p>LOS ANGELES, CALIFORNIA &#8211; AUGUST 20: The exterior sign of a Lowe&#8217;s home improvement store is seen on August 20, 2024 in Los Angeles, California. The company beat fiscal second-quarter earnings expectations, but missed on sales and cut its full-year outlook blaming inflation.  (Photo by Eric Thayer\/Getty Images)<\/p>\n<p>Eric Thayer | Getty Images News | Getty Images<\/p>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"group\">\n<p><span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\" id=\"RegularArticle-QuoteInBody-1\"><a href=\"https:\/\/www.cnbc.com\/quotes\/LOW\/\">Lowe&#8217;s<\/a><span class=\"QuoteInBody-inlineButton\"><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"-WatchlistDropdown\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" aria-label=\"Add To Watchlist\" data-testid=\"dropdown-btn\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"\/><\/button><\/span><\/span><\/span> beat Wall Street&#8217;s quarterly earnings expectations on Tuesday, as outdoor do-it-yourself projects, the home professional business and stronger online shopping fueled sales.<\/p>\n<p>Yet even with the better-than-expected results, the home improvement retailer is projecting a year-over-year sales decline. The company updated its full-year guidance on Tuesday, and now expects total sales of between $83 billion\u00a0to\u00a0$83.5 billion, higher than its previous forecast\u00a0for $82.7\u00a0billion to\u00a0$83.2 billion. It said it expects comparable sales to decline 3% to 3.5%, slightly better than the 3.5% to 4% drop that it had previously anticipated.<\/p>\n<p>Lowe&#8217;s is lapping a year-ago period when the company lowered its outlook and sales tumbled nearly 13% year over year. It also <a href=\"https:\/\/www.cnbc.com\/2024\/08\/20\/lowes-low-q2-2024-earnings.html\">cut its full-year forecast<\/a> in August, as it predicted weak home improvement demand in the back half of the year because of high interest rates.<\/p>\n<p>Here&#8217;s what the company reported for the three-month period that ended Nov. 1 compared with what Wall Street was expecting, based on a survey of analysts by LSEG:<\/p>\n<ul>\n<li><strong>Earnings per share:<\/strong>\u00a0$2.89 adjusted vs. $2.82 expected<\/li>\n<li><strong>Revenue:<\/strong>\u00a0$20.17 billion vs. $19.95 billion expected<\/li>\n<\/ul>\n<p>In the fiscal third quarter, Lowe&#8217;s net income fell to $1.7 billion, or $2.99 per share,<strong> <\/strong>compared with $1.77 billion, or $3.06 per share, <a href=\"https:\/\/www.cnbc.com\/2023\/11\/21\/lowes-low-earnings-q3-2023.html\">in the year-ago period.<\/a> Revenue dropped from $20.47 billion\u00a0in the year-ago quarter.<\/p>\n<p>Lowe&#8217;s competitor, <span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\" id=\"RegularArticle-QuoteInBody-4\"><a href=\"https:\/\/www.cnbc.com\/quotes\/HD\/\">Home Depot<\/a><span class=\"QuoteInBody-inlineButton\"><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"-WatchlistDropdown\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" aria-label=\"Add To Watchlist\" data-testid=\"dropdown-btn\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"\/><\/button><\/span><\/span><\/span>, reported last week that customers are <a href=\"https:\/\/www.cnbc.com\/2024\/11\/12\/home-depot-hd-earnings-q3-2024.html\">still deferring bigger projects and pricier purchases<\/a>, even after two interest rate cuts by the Federal Reserve. Home Depot beat Wall Street&#8217;s sales and earning expectations, yet posted its eighth quarter in a row of declining comparable sales. It did see some improving sales trends, however, due to hurricane-related demand, warm-weather home projects and <a href=\"https:\/\/www.cnbc.com\/2024\/11\/15\/why-home-depot-acquired-srs-distribution.html\">the acquisition of SRS Distribution<\/a>, a company that sells supplies to landscaping, pool and roofing professionals.<\/p>\n<p>As of Monday&#8217;s close, shares of Lowe&#8217;s have risen about 22% this year. That&#8217;s less than the approximately 24% gains of the S&amp;P 500 during the same period. The company&#8217;s stock closed on Monday at $271.77, bringing the market value of Lowe&#8217;s to $154.17 billion.<\/p>\n<p><em><strong>This is breaking news. Please check back for updates.<\/strong><\/em><\/p>\n<\/div>\n<\/div>\n<p><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<br \/><div data-type=\"_mgwidget\" data-widget-id=\"1660802\">\r\n<\/div>\r\n<script>(function(w,q){w[q]=w[q]||[];w[q].push([\"_mgc.load\"])})(window,\"_mgq\");\r\n<\/script>\r\n<br \/>\n<br \/><a href=\"https:\/\/www.cnbc.com\/2024\/11\/19\/lowes-low-q3-2024-earnings-.html\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>LOS ANGELES, CALIFORNIA &#8211; AUGUST 20: The exterior sign of a Lowe&#8217;s home improvement store is seen on August 20, 2024 in Los Angeles, California. The company beat fiscal second-quarter &hellip; <a href=\"https:\/\/hotvideos24.online\/?p=127747\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-127747","post","type-post","status-publish","format-standard","hentry","category-business","entry"],"_links":{"self":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/127747","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=127747"}],"version-history":[{"count":0,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/127747\/revisions"}],"wp:attachment":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=127747"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=127747"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=127747"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}