|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|
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|10-year Financial Information|
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|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:
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|Lowe's Reports Record Third Quarter Earnings|
|-- Third Quarter Total Sales Increased 16.9 Percent -- -- Third Quarter Comparable Store Sales Increased 6.2 Percent --|
MOORESVILLE, N.C., Nov 14, 2005 /PRNewswire-FirstCall via COMTEX News Network/ -- Lowe's Companies, Inc. (NYSE: LOW), the world's second largest home improvement retailer, today reported net earnings of $649 million for the quarter ended October 28, 2005, a 25.8 percent increase over the same period a year ago. Diluted earnings per share increased 24.6 percent to $0.81 from $0.65 in the third quarter of 2004. For the nine months ended October 28, 2005, net earnings grew 24.5 percent to $2.08 billion while diluted earnings per share increased 24.5 percent to $2.59.
Sales for the quarter increased 16.9 percent to $10.6 billion, up from $9.1 billion in the third quarter of 2004. Comparable store sales for the third quarter increased 6.2 percent. For the nine months ended October 28, 2005, sales increased 16.2 percent to $32.4 billion. Comparable store sales increased 5.5 percent in the first nine months of 2005.
"Our performance, highlighted by positive comparable store sales in all of our 20 product categories and 19 of our 21 geographic regions, is a clear indication that consumers continue to invest in products and projects to maintain, enhance and improve their homes even in light of concerns about the impact of rising gasoline and home heating costs," explained Robert A. Niblock, Lowe's chairman, president and CEO. "Continued investments in our business coupled with our culture of customer service have strengthened our competitive position, and we're confident Lowe's has the flexibility to adapt to changes in the marketplace to continue to deliver solid results."
"Our employees provided exceptional service in a quarter marked by the distractions of three major hurricanes," Niblock added. "Our focus on serving our customers' needs with innovative and differentiated products and services allows us to continue to capture market share in a fragmented home improvement industry."
During the quarter, Lowe's opened 33 new stores and temporarily closed one store impacted by hurricane Katrina. As of October 28, 2005, Lowe's operated 1,170 stores in 49 states representing 133.0 million square feet of retail selling space, a 13.1 percent increase over last year.
A conference call to discuss third quarter 2005 operating results is scheduled for today (Monday, November 14) at 9:00 a.m. EST. 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 the icon for the Lowe's Third Quarter 2005 Earnings Conference Call Webcast. A replay of the call will be archived on Lowes.com/investor until February 26, 2006.
Lowe's Business Outlook
Fourth Quarter 2005 - a 14-week Quarter (comparisons to fourth quarter 2004 - a 13-week quarter)
- The company expects to open 63 new stores and reopen one store that was temporarily closed following hurricane Katrina reflecting square footage growth of approximately 13 percent - Total sales are expected to increase approximately 22 percent - The company expects to report a comparable store sales increase of 4 to 6 percent (14 weeks vs. a comparable 14 weeks) - Operating margin (defined as gross margin less SG&A and depreciation) is expected to decline approximately 20 basis points - Store opening costs are expected to be approximately $50 million - Diluted earnings per share of $0.77 to $0.80 are expected - Lowe's fourth quarter ends on February 3, 2006 with operating results to be publicly released on Monday, February 27, 2006
Fiscal Year 2005 - a 53-week Year (comparisons to fiscal year 2004 - a 52- week year)
- The company expects to open 150 stores in 2005 reflecting total square footage growth of approximately 13 percent - Total sales are expected to increase 17 to 18 percent for the year - The company expects to report a comparable store sales increase of 5 to 6 percent - Operating margin (defined as gross margin less SG&A and depreciation) is expected to increase approximately 40 basis points - Store opening costs are expected to be approximately $134 million - Diluted earnings per share of $3.37 to $3.40 are expected for the fiscal year ending February 3, 2006 Disclosure Regarding Forward-Looking Statements
This news release includes "forward-looking statements" within the meaning the Private Securities Litigation Reform Act of 1995 (the "Act"). Statements of the company's expectations for sales growth, comparable store sales, earnings and performance, capital expenditures, store openings, demand for services, and any statement of an assumption underlying any of the foregoing, constitute "forward-looking statements" under the Act. Although the company believes that the expectations, opinions, projections, and comments reflected in its forward-looking statements are reasonable, it can give no assurance that such statements will prove to be correct. A wide-variety of potential risks, uncertainties, and other factors could materially affect our ability to achieve the results expressed or implied by our forward-looking statements including, but not limited to, changes in general economic conditions, such as interest rate and currency fluctuations, rising fuel costs, and other factors which can negatively affect our customers as well as our ability to: (i) respond to decreases in the number of new housing starts and the level of repairs, remodeling, and additions to existing homes, as well as general reduction in commercial building activity; (ii) secure, develop, and otherwise implement new technologies and processes designed to enhance our efficiency and competitiveness; (iii) attract, train, and retain highly-qualified associates; (iv) locate, secure, and develop new sites for store development; (v) respond to fluctuations in the prices and availability of services, supplies, and products; (vi) respond to the growth and impact of competition; (vii) address legal and regulatory matters; and (viii) respond to unanticipated weather conditions. Additional information regarding the risks and uncertainties which may affect our operations and economic results can be found in our filings with the Securities and Exchange Commission.
The forward-looking statements contained in this news release speak only as of the date of this release and the company does not assume any obligation to update any such statements.
With fiscal year 2004 sales of $36.5 billion, Lowe's Companies, Inc. is a FORTUNE(R) 50 company that serves approximately 11 million customers a week at more than 1,150 home improvement stores in 49 states. Based in Mooresville, N.C., the 59-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 October 29, 2004 October 28, 2005 As Restated Current Earnings Amount Percent Amount Percent Net sales $10,592 100.00 $9,064 100.00 Cost of sales 6,997 66.06 6,013 66.34 Gross margin 3,595 33.94 3,051 33.66 Expenses: Selling, general and administrative 2,212 20.88 1,906 21.03 Store opening costs 35 0.33 32 0.35 Depreciation 257 2.43 232 2.56 Interest 36 0.34 40 0.44 Total expenses 2,540 23.98 2,210 24.38 Pre-tax earnings 1,055 9.96 841 9.28 Income tax provision 406 3.83 325 3.58 Net earnings $649 6.13 $516 5.70 Weighted average shares outstanding - Basic 780 772 Basic earnings per share $0.83 $0.67 Weighted average shares outstanding - Diluted 804 802 Diluted earnings per share $0.81 $0.65 Cash dividends per share $0.06 $0.04 Retained Earnings Balance at beginning of period $10,984 $8,672 Net earnings 649 516 Cash dividends (47) (31) Balance at end of period $11,586 $9,157 Lowe's Companies, Inc. Consolidated Statements of Current and Retained Earnings (Unaudited) In Millions, Except Per Share Data Nine Months Ended October 29, 2004 October 28, 2005 As Restated Current Earnings Amount Percent Amount Percent Net sales $32,435 100.00 $27,914 100.00 Cost of sales 21,388 65.94 18,605 66.65 Gross margin 11,047 34.06 9,309 33.35 Expenses: Selling, general and administrative 6,711 20.69 5,728 20.52 Store opening costs 85 0.26 71 0.26 Depreciation 752 2.32 666 2.38 Interest 122 0.38 133 0.48 Total expenses 7,670 23.65 6,598 23.64 Pre-tax earnings 3,377 10.41 2,711 9.71 Income tax provision 1,300 4.01 1,043 3.73 Net earnings $2,077 6.40 $1,668 5.98 Weighted average shares outstanding - Basic 776 778 Basic earnings per share $2.68 $2.14 Weighted average shares outstanding - Diluted 804 809 Diluted earnings per share $2.59 $2.08 Cash dividends per share $0.16 $0.11 Retained Earnings Balance at beginning of period $9,634 $7,574 Net earnings 2,077 1,668 Cash dividends (125) (85) Balance at end of period $11,586 $9,157 Lowe's Companies, Inc. Consolidated Balance Sheets In Millions, Except Par Value Data (Unaudited) (Unaudited) October 28, October 29, January 28, 2005 2004 2005 As Restated Assets Current assets: Cash and cash equivalents $1,599 $461 $642 Short-term investments 710 189 171 Accounts receivable - net 23 35 9 Merchandise inventory - net 6,613 5,864 5,982 Deferred income taxes 76 101 95 Other assets 177 96 75 Total current assets 9,198 6,746 6,974 Property, less accumulated depreciation 15,410 13,265 13,911 Long-term investments 296 153 146 Other assets 205 199 178 Total assets $25,109 $20,363 $21,209 Liabilities and shareholders' equity Current liabilities: Current maturities of long-term debt $632 $31 $630 Accounts payable 3,198 2,596 2,687 Accrued salaries and wages 369 281 386 Other current liabilities 2,525 1,993 2,016 Total current liabilities 6,724 4,901 5,719 Long-term debt, excluding current maturities 3,749 3,661 3,060 Deferred income taxes 745 699 736 Other long-term liabilities 290 131 159 Total liabilities 11,508 9,392 9,674 Shareholders' equity: Preferred stock - $5 par value, none issued - - - Common stock - $.50 par value; Shares issued and outstanding October 28, 2005 780 October 29, 2004 772 January 28, 2005 774 390 386 387 Capital in excess of par 1,625 1,429 1,514 Retained earnings 11,586 9,157 9,634 Accumulated other comprehensive loss - (1) - Total shareholders' equity 13,601 10,971 11,535 Total liabilities and shareholders' equity $25,109 $20,363 $21,209 Lowe's Companies, Inc. Consolidated Statements of Cash Flows (Unaudited) In Millions Nine Months Ended Oct. 29, 2004 October 28, 2005 As Restated Cash Flows From Operating Activities: Net earnings $2,077 $1,668 Adjustments to reconcile net earnings to net cash provided by operating activities: Depreciation and amortization 771 679 Deferred income taxes 28 66 Loss on disposition/writedown of fixed and other assets 23 41 Stock-based compensation expense 57 53 Tax effect of stock options exercised 48 14 Changes in operating assets and liabilities: Accounts receivable - net (14) 111 Merchandise inventory - net (631) (1,280) Other operating assets (102) 10 Accounts payable 511 384 Other operating liabilities 592 382 Net cash provided by operating activities 3,360 2,128 Cash flows from investing activities: (Increase) decrease in short-term investments (456) 629 Purchases of long-term investments (249) (10 Proceeds from sale/maturity of long- term investments 10 15 Increase in other long-term assets (34) (15) Fixed assets acquired (2,277) (2,116) Proceeds from the sale of fixed and other long-term assets 44 69 Net cash used in investing activities (2,962) (1,526) Cash flows from financing activities: Long-term debt borrowings 995 - Debt issuance costs (8) - Repayment of long-term debt (23) (70) Proceeds from employee stock purchase plan 32 30 Proceeds from stock options exercised 183 71 Cash dividend payments (125) (85) Repurchase of common stock (495) (1,000) Net cash used in financing activities 559 (1,054) Net increase (decrease) in cash and cash equivalents 957 (452) Cash and cash equivalents, beginning of period 642 913 Cash and cash equivalents, end of period $1,599 $461
SOURCE Lowe's Companies, Inc.
Shareholders'-Analysts' Inquiries, Paul Taaffe, +1-704-758-2033, or Media, Chris Ahearn, +1-704-758-2304, both of Lowe's Companies, Inc.