LOWE’S COMPANIES Reports Second Quarter Earnings Results for FY2024 as of July 31 2023
August 24, 2023
🌥️Earnings Overview
On August 22 2023, LOWE’S COMPANIES ($NYSE:LOW) announced their second quarter earnings results for FY2024, with reference to July 31 2023. The total revenue of the quarter was USD 25.0 billion, a decrease of 9.2% from the same period last year. Similarly, net income for the quarter was USD 2.7 billion, a 10.7% reduction from the year before.
Stock Price
The company’s stock opened at $222.1 and closed at $225.7, up by 3.7% from the previous closing price of $217.6. This increase marked the approval from investors concerning the company’s performance during the quarter. In addition to reporting higher net sales and increased adjusted earnings per share, LOWE’S COMPANIES also announced that it has implemented strategies to improve operational efficiency and customer experience. The company has invested in technology and infrastructure to make its digital capabilities more efficient and effective.
It has also implemented various cost-saving initiatives to reduce overall expenses and ensure maximum profitability. Overall, the company’s second quarter report has been well-received by investors, with the stock opening and closing higher than its previous closing price. LOWE’S COMPANIES’ strategic efforts to improve operational effectiveness and customer experience are expected to bring further positive results in the coming quarters. 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 | 6.04k | 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 | -25.14 |
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% | 10.5% |
| FCF Margin | ROE | ROA |
| 7.1% | -41.7% | 13.8% |
Analysis
As GoodWhale, we analyzed the wellbeing of LOWE’S COMPANIES and found that it scored strong in dividend and profitability, medium in growth, and weak in asset. With a high health score of 8/10 with regard to its cashflows and debt, LOWE’S COMPANIES is capable to sustain future operations in times of crisis. Based on the Star Chart, we classified LOWE’S COMPANIES as a ‘rhino’, indicating that the company has achieved moderate revenue or earnings growth. We believe that investors who are looking for a company with a strong dividend and profitability, and are willing to accept moderate revenue or earnings growth, will be interested in LOWE’S COMPANIES. 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 their second quarter financial results for FY2024, with a total revenue of USD 25.0 billion and a net income of USD 2.7 billion. This represented a 9.2% decrease in revenue from the same period in the previous year, and a 10.7% decrease in net income. Despite the decline, the stock price moved up on the same day. For investors looking to invest in LOWE’S COMPANIES, it is important to note the decreased revenue and net income.
However, LOWE’S COMPANIES continues to have a strong brand and competitive offering, which should help it continue to generate positive results. Investors should also consider the potential for future growth, given the company’s ability to adapt to changing consumer demands.
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