LOWE’S COMPANIES Reports First Quarter FY2024 Earnings Results for Period Ending May 23 2023

🌥️Earnings Overview

LOWE’S COMPANIES ($NYSE:LOW) reported total revenue of USD 22.4 billion and net income of USD 2.3 billion for the 1st quarter of FY2024, ending on May 23 2023. This represents a 5.5% and 3.0% decline respectively, compared to the same period in the prior year.

Stock Price

On Tuesday, LOWE’S COMPANIES reported its first quarter FY2024 earnings results for the period ending May 23 2023. The stock opened at $202.8 and closed at $206.6, up by 1.7% from its last closing price of $203.2. This increase in share value is a sign that the company is doing well financially and achieving its goals. Overall, LOWE’S COMPANIES has reported an impressive first quarter earnings results.

The company’s strong financial performance is seen through its stock performance and higher EPS year-over-year. With these results, LOWE’S COMPANIES looks set to continue to be a leader in the home improvement sector. Live Quote…

About the Company

Income Snapshot

Below shows the total revenue, net income and net margin for Lowe’s Companies. More…

Cash Flow Snapshot

Below shows the cash from operations, investing and financing for Lowe’s Companies. More…

Balance Sheet Snapshot

Below shows the total assets, liabilities and book value per share for Lowe’s Companies. More…

Key Ratios Snapshot

Some of the financial key ratios for Lowe’s Companies are shown below. More…

Analysis

At GoodWhale, we always strive to give our investors the best possible advice when it comes to investing. This is why we have analyzed the fundamentals of LOWE’S COMPANIES. Through our Star Chart, we have noticed that LOWE’S COMPANIES is strong in dividend, profitability and medium in growth but weak in asset. We classify LOWE’S COMPANIES as a ‘rhino’, a type of company that has achieved moderate revenue or earnings growth. This may be an interesting opportunity for investors who are looking for companies with strong dividend and profitability, but are not looking for high-growth investments. Additionally, LOWE’S COMPANIES has a high health score of 8/10 which suggests that it is capable of sustaining future operations in times of crisis. As such, LOWE’S COMPANIES could be a great investment option for those looking for a steady return with minimal risk. 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

Investors should take note of Lowe’s Companies‘ first quarter FY2024 results which saw total revenue decrease by 5.5% to $22.4 billion and net income decline 3.0% to $2.3 billion compared to the same period last year. This could be a sign of a weakening market for Lowe’s, prompting investors to consider other alternatives for their investments. It may be wise to analyze the company’s performance and outlook before making any decisions, as further drops in revenue or net income could indicate a potential underperformance in the future.