Key Insights into Lowe's (LOW) Q1 2024 Performance and Future Outlook
Wednesday, 22 May 2024, 18:05
Better-than-expected results
Lowe’s total sales for Q1 2024 dropped 4% year-over-year. Net income fell by 18% to $1.8 billion. Both top and bottom-line numbers exceeded projections.
DIY weakness, strength in Pro
In Q1, Lowe’s comparable sales declined by 4.1%. Pro sales and online growth were highlights, despite challenges in DIY segments.
Outlook
Lowe’s outlook for 2024 expects sales to range between $84-85 billion and EPS to range between $12.00-12.30. Comparable sales are anticipated to be down 2-3% from the previous year.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.