Lowe's: EPS down 17% in Q1

(CercleFinance.com) - Home improvement chain Lowe's Companies has reported net profit of $1.
8bn for Q1, or $3.06 per share, down nearly 17% on adjusted EPS a year earlier.

Group sales were $21.4bn, down 4.1% LFL, as a decline in expensive discretionary DIY spending was partly offset by positive developments in the Pro and online sectors.

Lowe's confirms its outlook for FY 2024, including EPS of approximately $12 to $12.30, an operating margin of 12.6% to 12.7%, and sales of $84bn to $85bn, down 2% to 3% on a comparable basis.


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