Lowe's: revised outlook for 2024

(CercleFinance.com) - On the occasion of its quarterly publication, Lowe's Companies has revised its outlook for fiscal 2024 from $11.
70 to $11.90 to $11.80 to $11.80 adjusted EPS.

While it has lowered its target range for adjusted operating margin to between 12.3% and 12.4%, it has raised its revenue target to between $83 and $83.5 billion, with comparable sales now expected to decline by only -3 to -3.5%.

In its third accounting quarter, the home improvement chain posted adjusted EPS of $2.89 on total sales of $20.2 billion, with comparable sales down 1.1%.

These suffered from 'persistent weakness in discretionary DIY demand, which was partially offset by storm-related sales and positive comparable sales in the Pro and online categories'.

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