LOWE’S COMPANIES ($NYSE:LOW) reported their FY2024 second quarter earnings results on July 31, 2023. Total revenue for the quarter was USD 25.0 billion, showing a 9.2% decline year-over-year. Net income for the quarter also decreased 10.7% year-over-year, amounting to a total of USD 2.7 billion.
On July 31st 2023, LOWE’S COMPANIES reported strong earnings results for their second quarter of FY2024. On Tuesday, their stock opened at $222.1 and closed at $225.7, up by 3.7% from the previous day’s closing price of $217.6. This was largely attributed to strong demand in the home improvement industry due to the pandemic, as well as their successful expansion into the e-commerce sector. The strong earnings results were also supported by the company’s strategic capital investments, which enabled them to focus on their core business and modernize their operations for the future.
The company’s initiatives in the areas of technology, store optimization, supply chain infrastructure and digital marketing have given them a competitive edge in the current market. Overall, LOWE’S COMPANIES has reported excellent results for the second quarter of FY2024 with their stock prices continuing to increase. With their strong financial performance and strategic investments in technology and other areas, LOWE’S COMPANIES is well-positioned to continue to capitalize on the current market conditions and drive further growth in the future. Live Quote…
About the Company
Ownership (Institutional/ Fund Holdings)
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GoodWhale gives you an in-depth look into the fundamentals of LOWE’S COMPANIES. Our Risk Rating tool categorizes LOWE’S COMPANIES as a medium risk investment in terms of financial and business aspects. We have also detected two risk warnings in the balance sheet, which are non-financial. If you’re looking to explore the risks and rewards of this company, make sure to log onto our website to check it out. More…
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Headquartered in Mooresville, North Carolina, the company employs over 290,000 people. Lowe’s is the second-largest home improvement retailer in the United States, after The Home Depot. The company competes with The Home Depot, Bed Bath & Beyond, Kohnan Shoji Co Ltd, and other home improvement retailers.
– The Home Depot Inc ($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.
LOWE’S COMPANIES reported their earnings results for Q2 of FY2024, showing total revenue of USD 25.0 billion with a 9.2% year-over-year decline, and net income of USD 2.7 billion, down 10.7% from the prior year. Upon the news, the stock price of the company moved up. For investors looking to assess the company’s performance, this data reveals a downturn in profits but also indicates that the company is managing to remain competitive in an uncertain market. While investors should remain cautious, the stock price movement may be viewed as a positive sign and suggests that LOWE’S COMPANIES may continue to be a viable investment option.