Lowe’s Companies Announces Positive Fourth Quarter Results for FY2023
March 16, 2023
Earnings Overview
On March 1 2023, LOWE’S COMPANIES ($NYSE:LOW) announced their financial results for the fourth quarter of FY2023 which concluded on January 31 2023. Overall revenue for the quarter was recorded at USD 1.0 billion, a decline of 20.7% compared to the corresponding quarter in the previous year. Net income for the period was USD 22.4 billion, a 5.2% rise from the same quarter in the prior year.
Share Price
Despite these positive results, the company’s stock opened at $205.4 and closed at $194.3, representing a drop of 5.6% from its previous closing price of $205.8. Still, the company is well positioned to continue growing despite the challenging retail environment. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Lowe’s Companies. More…
| Total Revenues | Net Income | Net Margin |
| 97.06k | 6.44k | 6.6% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Lowe’s Companies. More…
| Operations | Investing | Financing |
| 8.59k | -1.31k | -7.05k |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Lowe’s Companies. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 43.71k | 57.96k | -23.72 |
Key Ratios Snapshot
Some of the financial key ratios for Lowe’s Companies are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 10.4% | 17.2% | 10.5% |
| FCF Margin | ROE | ROA |
| 7.0% | -46.8% | 14.5% |
Analysis
At GoodWhale, we believe in providing you with the most comprehensive analysis of LOWE’S COMPANIES‘s fundamentals. Our Risk Rating has marked LOWE’S COMPANIES as a medium risk investment. This rating takes into account both financial and business aspects. We have also detected 3 risk warnings in the income sheet, balance sheet, and non-financial metrics. If you sign up with us, you’ll be able to take a deeper dive into these detailed metrics and get an even better understanding of LOWE’S COMPANIES’s fundamentals. We’re confident that this comprehensive analysis will help you make smart and informed decisions. More…
Peers
Headquartered in Mooresville, North Carolina, the company employs over 290,000 people. Lowe’s is the second-largest home improvement retailer in the United States, after The Home Depot. The company competes with The Home Depot, Bed Bath & Beyond, Kohnan Shoji Co Ltd, and other home improvement retailers.
– The Home Depot Inc ($NYSE:HD)
The Home Depot Inc is a home improvement retailer that operates in the United States, Canada, and Mexico. It was founded in 1978 and is headquartered in Atlanta, Georgia. The company has a market capitalization of $282.03 billion as of 2022 and a return on equity of -2020.81%. Home Depot operates over 2,200 stores across the United States, Canada, and Mexico. The company offers a wide variety of home improvement products and services, including electrical, plumbing, lawn and garden, tools, and more.
– Bed Bath & Beyond Inc ($NASDAQ:BBBY)
Bath & Beyond Inc is a home goods retailer that operates in the United States and Canada. As of 2022, the company had a market capitalization of 401.26 million and a return on equity of 146.77%. The company sells a variety of home goods, including bedding, bath products, kitchen items, and home decor. It also operates a website and mobile app.
– Kohnan Shoji Co Ltd ($TSE:7516)
Kohnan Shoji Co Ltd is a Japanese company that manufactures and sells construction materials, tools, and hardware. It has a market cap of 94.2B as of 2022 and a return on equity of 9.73%. The company has a strong presence in the Japanese market and is one of the leading suppliers of construction materials in the country. It has a wide range of products that are used in both residential and commercial construction projects.
Summary
Lowe’s Companies reported its fourth quarter earnings for FY2023, ending on January 31, 2023, on March 1, 2023. The reported total revenue decreased by 20.7% compared to the same period last year, however net income increased by 5.2%. As a result of these financial results, the stock price dropped on the same day. For investors, Lowe’s Companies performance in the fourth quarter of FY2023 has presented mixed results.
Although their revenue is down, their net income has increased which could be seen as a positive sign. Investors should do further research into the company’s financials to determine if it is a good investment opportunity.
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