Recent Releases

03/22/19 - Lowe's Companies, Inc. Declares Cash Dividend
MOORESVILLE, N.C., March 22, 2019 /PRNewswire/ -- The Board of Directors for Lowe's Companies, Inc. (NYSE: LOW) has declared a quarterly cash dividend of forty-eight cents ($0.48) per share, payable May 8, 2019, to shareholders of record as of April 24, 2019. Lowe's Companies, Inc. (NYSE: LOW) is a FORTUNE® 50 home improvement company serving more than 18 million customers a week in the United States, Canada and Mexico. With fiscal year 2018 sales of $71.3 bil
03/06/19 - Lowe's to Webcast Presentation from the Bank of America Merrill Lynch 2019 Consumer & Retail Technology Conference
MOORESVILLE, N.C., March 6, 2019 /PRNewswire/ -- Lowe's Companies, Inc. (NYSE: LOW) announces that Marvin R. Ellison, president and chief executive officer, and David M. Denton, chief financial officer, will present at the Bank of America Merrill Lynch 2019 Consumer & Retail Technology Conference in New York, NY. What: Presentation by Marvin Ellison and David Denton at the Bank of America Merrill Lynch 2019 Consumer & Retail Technology
02/27/19 - Lowe's Reports Fourth Quarter Sales And Earnings Results
-- Diluted Loss Per Share of ($1.03) -- -- Adjusted Diluted Earnings Per Share (1) of $0.80 -- -- Reiterates Fiscal 2019 Business Outlook -- MOORESVILLE, N.C., Feb. 27, 2019 /PRNewswire/ -- Lowe's Companies, Inc. (NYSE: LOW) today reported a net loss of $824 million and diluted loss per share of ($1.03) for the quarter ended Feb. 1, 2019, which included pre-tax charges of $1.6 billion, compared to net earnings of $554 million and diluted earnings per share of $0.67 in the four
02/20/19 - Lowe's Companies, Inc. Invites You to Join Its Fourth Quarter 2018 Earnings Conference Call Webcast
MOORESVILLE, N.C., Feb. 20, 2019 /PRNewswire/ -- In conjunction with the Lowe's Companies, Inc. (NYSE: LOW) fourth quarter 2018 earnings press release, you are invited to listen to its conference call to be broadcast live over the internet on Wednesday, February 27, 2019 at 9:00 a.m. Eastern Time. Supplemental slides will be available fifteen minutes prior to the start of the conference call. What:
See more financial releases

News Release

Printer Friendly Version View printer-friendly version
<< Back
Lowe’s Reports Record First Quarter Earnings

WILKESBORO, N.C. – Lowe’s Companies, Inc. (NYSE: LOW), the world’s second largest home improvement retailer, today reported net earnings of $187.1 million for the quarter ended April 28, 2000, a 50 percent increase over the same period a year ago. Diluted earnings per share increased 48 percent to $0.49 from $0.33 in the first quarter of 1999. First quarter earnings per share for the prior year include a one-time charge of $0.04 per share for costs related to the merger with Eagle Hardware and Garden, Inc. (“Eagle”) on April 2, 1999. Excluding the one-time charge, both net earnings and diluted earnings per share increased 32% over the same period a year ago.

Sales for the quarter increased 18.4 percent to $4.47 billion, up from $3.77 billion in the first quarter of 1999. Sales at the company’s comparable stores increased 4.1 percent during the quarter.

“We were pleased with the earnings performance achieved, especially in light of adverse weather at the beginning and ending of the quarter,” commented Robert L. Tillman, Lowe’s chairman and CEO. “Although strong sales performance in categories such as home decor and appliances was tempered by slower performance of more weather sensitive products, our sales associates’ enthusiasm was not dampened. Their continued dedication and focus on growing sales and controlling expenses should enable Lowe’s to have another record year.”

During the quarter, Lowe’s opened 13 new stores and relocated 2 stores bringing total store count to 589 stores in 39 states. Retail square footage grew to 58.5 million, a 19 percent increase over the same period a year ago.

This news release includes “forward-looking statements” within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act. Although the company believes that comments reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to be correct. Possible risks and uncertainties regarding these statements include, but are not limited to, the direction of general economic trends, the availability of real estate for expansion and its successful development, fluctuations in prices and availability of commodities, unanticipated increases in competition with home improvement chains, adverse weather conditions that affect sales, not fully realized cost savings from the Eagle merger, and greater than anticipated costs associated with the integration of the two businesses.

Lowe’s Companies, Inc. is the second largest retailer of home improvement products in the world, serving nearly five million do-it-yourself retail and commercial business customers weekly through 589 stores in 39 states. Headquartered in Wilkesboro, N.C., the 54-year old company employs nearly 100,000 people. More information on the company is available on Lowe’s web site at www.lowes.com.