|Q4 2018 Earnings Press Release|
|Q4 2018 Earnings Infographic|
|Q4 2018 Reconciliation of Non-GAAP Measures|
|Q4 2018 Financial Statements|
|Q4 FY2018 Re-Baseline Summary Financials|
|2017 Annual Report||2017 Form 10-K|
|2018 Proxy Statement|
|Canada Acquisition Reference Slides|
|Stores by State|
|10-year Financial Information|
|Sell-side Analyst Coverage|
|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:
|View printer-friendly version|
|Lowe's Reports Record First Quarter Earnings|
Strong Performance Balanced Across All Regions, Product Categories - First Quarter Total Sales Increased 22 Percent - - First Quarter Comparable Store Sales Increased 9.9 Percent -
MOORESVILLE, N.C., May 17 /PRNewswire-FirstCall/ -- Lowe's Companies, Inc. (NYSE: LOW), the world's second largest home improvement retailer, today reported net earnings of $455 million for the quarter ended April 30, 2004, an 8.1 percent increase over the same period a year ago. Diluted earnings per share increased 7.5 percent to $0.57 from $0.53 in the first quarter of 2003. Excluding the $126 million net earnings and $0.16 per share impact of EITF 02-16, net earnings would have been $581 million, a 38.0 percent increase over last year's first quarter and diluted earnings per share would have increased 37.7 percent to $0.73.
(Logo: http://www.newscom.com/cgi-bin/prnh/20031205/LOWLOGO )
Sales for the quarter increased 22.0 percent to $8.68 billion, up from $7.12 billion in the first quarter of 2003. Comparable store sales for the first quarter increased 9.9 percent.
"The right store format, the right products and consistently excellent service have proven quarter after quarter that Lowe's has the right business model to meet our customers' needs," explained Robert L. Tillman, Lowe's chairman and CEO. "Consumer focus on the home remains constant, and Lowe's remains uniquely positioned to satisfy that need and capitalize on the growth of the home improvement market."
"Strength in every product category and across every geographic region drove solid earnings growth in the first quarter," said Lowe's President, Robert A. Niblock. "Continued strong sales in big-ticket categories such as outdoor power equipment and kitchen cabinets are an indication that consumers are not only willing, but are enthusiastic about investing in products and projects that maintain and enhance their greatest asset -- their home."
During the quarter, Lowe's opened 29 new stores, and closed one store. As of April 30, 2004, Lowe's operated 980 stores in 45 states representing 111.9 million square feet of retail selling space, a 15.1 percent increase over last year.
A conference call to discuss first quarter 2004 operating results is scheduled for today (Monday, May 17) at 9:00 a.m. EDT. Please dial 888-817-4020 (international callers dial 706-679-3245) to participate. A webcast of the call will take place simultaneously and can be accessed by visiting Lowe's website at www.Lowes.com/investor and clicking on Lowe's First Quarter 2004 Earnings Conference Call Webcast. A replay of the call will be archived on Lowes.com for seven days.
Emerging Issues Task Force Issue 02-16
The impact of Emerging Issues Task Force ("EITF") Issue 02-16, "Accounting by a Customer (including a Reseller) for Certain Consideration Received from a Vendor," is being recognized in 2004 and modifies accounting for certain funds received from vendors.
Prior to 2004, funds received from vendors for co-op advertising and in- store services were allowed to be treated as a direct offset to the associated expense. EITF 02-16 requires retailers to treat certain of these funds as a reduction of cost of goods, delaying recognition of the benefit of these funds until the inventory is sold. There is no impact to the timing of when the funds are received from vendors or the associated cash flows.
Lowe's Business Outlook
This outlook is based on current expectations and 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.
Second Quarter 2004 (comparisons to second quarter 2003) * The company expects to open 19 stores reflecting square footage growth of approximately 14 percent * Total sales are expected to increase approximately 19 percent * The company expects to report a comparable store sales increase of 6 to 7 percent * Operating margin (defined as gross margin less SG&A and depreciation) is expected to increase 15 to 25 basis points * Store opening costs are expected to be approximately $20 million * Diluted earnings per share of $0.89 to $0.91 are expected * Lowe's second quarter ends on July 30, 2004 with operating results to be publicly released on Monday, August 16, 2004 Fiscal Year 2004 (comparisons to fiscal year 2003) * The company expects to open 140 stores in 2004 reflecting total square footage growth of approximately 14 percent * Total sales are expected to increase approximately 18 percent for the year * The company expects to report a comparable store sales increase of 6 to 7 percent * Including the estimated 60 basis point negative impact of EITF 02-16, operating margin (defined as gross margin less SG&A and depreciation) is expected to decline 10 to 20 basis points * Store opening costs are expected to be approximately $124 million * Including the estimated $0.16 impact of EITF 02-16, diluted earnings per share of $2.69 to $2.72 are expected for the fiscal year ending January 28, 2005. Excluding the impact of the accounting change, diluted earnings per share of $2.85 to $2.88 would be expected. Our presentation of this measure is intended to allow investors to compare our fiscal 2004 performance with that in fiscal 2003.
This news release includes statements, estimates or projections that constitute "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, changes in domestic economic conditions, the availability of real estate for expansion and its successful development, particularly in major metropolitan markets, the availability of sufficient labor to facilitate growth, fluctuations in prices and availability of product, unanticipated impact of competition, legal or regulatory developments, and weather conditions that affect sales. We provide additional information regarding these and other risks and uncertainties in our filings with the Securities and Exchange Commission. The forward-looking statements contained in this news release speak only as of this date and we do not assume any obligation to update them.
With fiscal year 2003 sales of $30.8 billion, Lowe's Companies, Inc. is a FORTUNE 50 company that serves approximately 10 million customers a week at more than 975 home improvement stores in 45 states. In 2004, FORTUNE named Lowe's America's Most Admired Specialty Retailer for a second consecutive year. Based in Mooresville, N.C., the 58-year old company is the second largest home improvement retailer in the world. For more information, visit Lowes.com
Lowe's Companies, Inc. Consolidated Statements of Current and Retained Earnings (Unaudited) In Millions, Except Per Share Data Three Months Ended April 30, 2004 May 2, 2003 Current Earnings Amount Percent Amount Percent Net sales $8,681 100.00 $7,118 100.00 Cost of sales 5,811 66.94 4,899 68.83 Gross margin 2,870 33.06 2,219 31.17 Expenses: Selling, general and administrative 1,853 21.35 1,299 18.25 Store opening costs 22 0.25 19 0.27 Depreciation 208 2.40 179 2.51 Interest 48 0.55 48 0.67 Total expenses 2,131 24.55 1,545 21.70 Pre-tax earnings 739 8.51 674 9.47 Income tax provision 284 3.27 255 3.58 Earnings from continuing operations 455 5.24 419 5.89 Earnings from discontinued operations, net of tax - 0.00 2 0.02 Net earnings 455 5.24 421 5.91 Weighted average shares outstanding - Basic 786 783 Basic earnings per share: Continuing operations $0.58 $0.54 Discontinued operations - - Basic earnings per share $0.58 $0.54 Weighted average shares outstanding - Diluted 808 802 Diluted earnings per share: Continuing operations $0.57 $0.53 Discontinued operations - - Diluted earnings per share $0.57 $0.53 Retained Earnings Balance at beginning of period $7,677 $5,887 Net earnings 455 421 Cash dividends (24) (20) Balance at end of period $8,108 $6,288 Lowe's Companies, Inc. Consolidated Statements of Earnings, Actual and Pro Forma (Unaudited) In Millions, Except Per Share Data Three Months Ended Pro Pro Forma Actual Forma Adjusted* Actual April 30, Adjust- April 30, May 2, Current Earnings 2004 ments* 2004 2003 Net sales $8,681 $- $8,681 $7,118 Cost of sales 5,811 103 5,914 4,899 Gross margin 2,870 (103) 2,767 2,219 Expenses: Selling, general and administrative 1,853 (308) 1,545 1,299 Store opening costs 22 - 22 19 Depreciation 208 - 208 179 Interest 48 - 48 48 Total expenses 2,131 (308) 1,823 1,545 Pre-tax earnings 739 205 944 674 Income tax provision 284 79 363 255 Earnings from continuing operations 455 126 581 419 Earnings from discontinued operations, net of tax - - - 2 Net earnings $455 $126 $581 $421 Shares outstanding - Basic 786 786 786 783 Basic earnings per share: Continuing operations $0.58 $0.16 $0.74 $0.54 Discontinued operations - - - - Basic earnings per share $0.58 $0.16 $0.74 $0.54 Shares outstanding - Diluted 808 808 808 802 Diluted earnings per share: Continuing operations $0.57 $0.16 $0.73 $0.53 Discontinued operations - - - - Diluted earnings per share $0.57 $0.16 $0.73 $0.53 *: Reflects the impact of EITF 02-16 on the Consolidated Statement of Earnings for the three months ended April 30, 2004. Lowe's Companies, Inc. Consolidated Balance Sheets In Millions, Except Par Value Data (Unaudited)(Unaudited) April 30, May 2, January 30, 2004 2003 2004 Assets Current assets: Cash and cash equivalents $1,848 $1,600 $1,446 Short-term investments 143 77 178 Accounts receivable - net 180 189 131 Merchandise inventory 5,713 4,864 4,584 Deferred income taxes 87 72 59 Other assets 114 142 166 Total current assets 8,085 6,944 6,564 Property, less accumulated depreciation 12,308 10,545 11,945 Long-term investments 163 132 169 Other assets 222 170 241 Total assets $20,778 $17,791 $18,919 Liabilities and Shareholders' Equity Current liabilities: Short-term borrowings $- $50 $- Current maturities of long-term debt 78 30 77 Accounts payable 3,484 2,960 2,243 Employee retirement plans 14 27 74 Accrued salaries and wages 166 169 335 Other current liabilities 2,129 1,570 1,516 Total current liabilities 5,871 4,806 4,245 Long-term debt, excluding current maturities 3,668 3,733 3,678 Deferred income taxes 687 499 657 Other long-term liabilities 46 18 30 Total liabilities 10,272 9,056 8,610 Shareholders' equity: Preferred stock - $5 par value, none issued - - - Common stock - $.50 par value; Shares issued and outstanding April 30, 2004 784 May 2, 2003 783 January 30, 2004 787 392 392 394 Capital in excess of par 2,006 2,055 2,237 Retained earnings 8,108 6,288 7,677 Accumulated other comprehensive income - - 1 Total shareholders' equity 10,506 8,735 10,309 Total liabilities and shareholders' equity $20,778 $17,791 $18,919 Lowe's Companies, Inc. Consolidated Statements of Cash Flows (Unaudited) In Millions Three Months Ended April 30, May 2, 2004 2003 Cash Flows From Operating Activities: Net Earnings $455 $421 Earnings from discontinued operations, net of tax - (2) Earnings from continuing operations 455 419 Adjustments to Reconcile Net Earnings from Continuing Operations to Net Cash Provided By Operating Activities: Depreciation and Amortization 213 183 Deferred Income Taxes 2 7 Loss on Disposition/Writedown of Fixed and Other Assets 16 7 Stock-based compensation expense 18 5 Tax Effect of Stock Options Exercised 7 4 Changes in Operating Assets and Liabilities: - Accounts Receivable - Net (49) (9) Merchandise Inventory (1,129) (892) Other Operating Assets 52 (20) Accounts Payable 1,241 1,138 Employee Retirement Plans (60) (61) Other Operating Liabilities 460 273 Net Cash Provided by Operating Activities from Continuing Operations 1,226 1,054 Cash Flows from Investing Activities: Decrease (Increase) in Investment Assets: Short-Term Investments 69 206 Purchases of Long-Term Investments (35) (164) Proceeds from Sale/Maturity of Long-Term Investments 6 47 Increase in Other Long-Term Assets 6 (16) Fixed Assets Acquired (585) (391) Proceeds from the Sale of Fixed and Other Long-Term Assets 11 19 Net Cash Used in Investing Activities from Continuing Operations (528) (299) Cash Flows from Financing Activities: Repayment of Long-Term Debt (8) (7) Proceeds from Stock Options Exercised 24 28 Cash Dividend Payments (24) (20) Repurchase of Common Stock (288) - Net Cash (Used in) Provided by Financing Activities from Continuing Operations (296) 1 Net Cash Used in Discontinued Operations - (9) Net Increase in Cash and Cash Equivalents 402 747 Cash and Cash Equivalents, Beginning of Period 1,446 853 Cash and Cash Equivalents, End of Period $1,848 $1,600
SOURCE Lowe's Companies, Inc. -0- 05/17/2004 /CONTACT: Shareholders' - Analysts' Inquiries, Paul Taaffe, +1-704-758-2033, or Media Inquiries, Chris Ahearn, +1-704-758-2304, both of Lowe's Companies, Inc./ /Photo: NewsCom: http://www.newscom.com/cgi-bin/prnh/20031205/LOWLOGO AP Archive: http://photoarchive.ap.org PRN Photo Desk, firstname.lastname@example.org / /Web site: http://www.lowes.com http://www.Lowes.com/investor / (LOW) CO: Lowe's Companies, Inc. ST: North Carolina IN: REA CST SU: ERN ERP CCA MAV KM-DL -- CLM032 -- 0059 05/17/2004 07:00 EDT http://www.prnewswire.com