Lowe’s Companies Reports Financial Results for Second Quarter of FY2024
September 6, 2023
🌥️Earnings Overview
For the second quarter ended July 31 2023, LOWE’S COMPANIES ($NYSE:LOW) reported total revenue of USD 25.0 billion, a decrease of 9.2% from the same period of the prior year. Net income for the quarter also decreased by 10.7% to USD 2.7 billion.
Price History
On Tuesday, Lowe’s Companies reported its financial results for the second quarter of FY2024. The company’s stock opened at $222.1 and closed at $225.7, up by 3.7% from the prior closing price of $217.6. Lowe’s Companies reported strong growth in sales, net income, and earnings per share.
The company attributed this increase to a combination of factors, including their focus on customer experience, successful merchandising strategies, and strong execution of their store operations initiatives. Lowe’s has also been successful in leveraging digital capabilities to meet changing customer needs. 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 |
| 93.23k | 6.03k | 6.5% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Lowe’s Companies. More…
| Operations | Investing | Financing |
| 8.54k | -1.31k | -5.2k |
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 |
| 44.52k | 59.25k | -25.53 |
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 |
| 5.1% | 5.0% | 10.6% |
| FCF Margin | ROE | ROA |
| 7.1% | -42.0% | 13.9% |
Analysis
GoodWhale has analyzed the fundamentals of LOWE’S COMPANIES, Inc., and has given the company a medium risk rating. This rating is based on the financial and business aspects of the company. We believe that medium risk investments can still offer good returns, while still having a significant risk level. GoodWhale has detected two risk warnings in the balance sheet that are non-financial in nature. If you would like to know more about these risks, please register with us and we will provide you with all of the necessary details. With this information, you can make an informed decision about investing in LOWE’S COMPANIES, Inc. 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 financial results for the second quarter of FY2024, showing total revenues of USD 25.0 billion and a year-over-year decrease of 9.2%. Net income decreased by 10.7% year-over-year to USD 2.7 billion. After the news, the stock price of Lowe’s Companies moved up. Investors should pay attention to the company’s financial performance and evaluate the potential of the stock in terms of its current valuation and growth prospects.
Additionally, Lowe’s Companies’ competitive landscape should also be taken into consideration when making an investing decision.
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