|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|
- First Quarter Comparable Store Sales Increased 5.7 Percent - - First Quarter Diluted Earnings Per Share Increased 45.2 Percent to $1.06 -
MOORESVILLE, N.C., May 22 /PRNewswire-FirstCall/ -- Lowe's Companies, Inc. (NYSE: LOW), the world's second-largest home improvement retailer, today reported net earnings of $841 million for the quarter ended May 5, 2006, a 43.5 percent increase over the same period a year ago. Diluted earnings per share increased 45.2 percent to $1.06 from $0.73 in the first quarter of 2005.
(Logo: http://www.newscom.com/cgi-bin/prnh/20031205/LOWLOGO )
Sales for the quarter increased 20.3% percent to $11.92 billion, up from $9.91 billion in the first quarter of 2005. Total sales results were positively impacted by the calendar shift more fully described in the business outlook section of this release. Comparable store sales for the first quarter increased 5.7 percent.
"With great execution and excellent customer service, we leveraged our ongoing investments in productivity and drove solid sales and strong earnings growth in the quarter," explained Robert A. Niblock, Lowe's chairman, president and CEO. "Industry-leading market share gains in appliances and outdoor power equipment are evidence of our compelling product offering and our success in meeting customers' needs."
"Recent data suggest continued favorable trends in employment levels and income growth which will offset some of the monetary pressures consumers are facing such as rising fuel prices and interest rates," Niblock added. "As trends in the housing market normalize from the rapid growth experienced over the past few years, we believe we have the programs in place to continue to capture share and deliver solid earnings growth."
During the first quarter of 2006, management reviewed the Company's method of accounting for early payment discounts on merchandise purchases and determined effective for 2006 it should recognize these discounts initially as a reduction of inventory cost and then as a reduction to cost of sales when the related inventory is sold. The Company previously recognized early payment discounts as a financing component of merchandise purchases by reducing cost of sales when the related product was purchased. Prior year financial statements have been restated to reflect this change. This resulted in a reduction in net earnings of $6 million and $9 million for fiscal years 2005 and 2004, respectively, including a reduction in net earnings for the first quarter of 2005 of $4 million, and a reduction in beginning retained earnings in fiscal 2004 of $28 million. The impact of this restatement on diluted earnings per share did not exceed $0.01 for any interim or annual period.
During the quarter, Lowe's opened 24 new stores. As of May 5, 2006, Lowe's operated 1,258 stores in 49 states representing 142.8 million square feet of retail selling space, a 12.9 percent increase over last year.
A conference call to discuss first quarter 2006 operating results is scheduled for today (Monday, May 22) 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 http://www.Lowes.com/investor and clicking on the icon for the Lowe's First Quarter 2006 Earnings Conference Call Webcast. A replay of the call will be archived on Lowes.com/investor until August 20, 2006.
Lowe's Business Outlook
Fiscal 2006 annual and fourth quarter comparisons will be negatively impacted by a 52 versus 53 week and 13 versus 14 week comparison, respectively. In addition, our 2006 quarterly comparisons will be impacted by a shift in comparable weeks to 2005. This week shift positively impacts the first quarter and is offset by negative impacts in the second and fourth quarters. The week shift does not impact comparable store sales results. Our 2006 guidance contemplates these factors.
Second Quarter 2006 (comparisons to second quarter 2005) * The company expects to open 24 new stores reflecting square footage growth of approximately 12 percent * Total sales are expected to increase approximately 12 percent (impacted by the week shift described above) * The company expects to report a comparable store sales increase of 3 to 5 percent * Operating margin (defined as gross margin less SG&A and depreciation) is expected to increase 10 to 20 basis points * Store opening costs are expected to be approximately $27 million * Diluted earnings per share of $1.21 to $1.24 are expected * Lowe's second quarter ends on August 4, 2006 with operating results to be publicly released on Monday, August 21, 2006
Fiscal Year 2006 - a 52-week Year (comparisons to fiscal year 2005 - a 53-week year)
* The company expects to open 155 stores in 2006 reflecting total square footage growth of approximately 12 percent * Total sales are expected to increase approximately 13 percent for the year (52 weeks versus 53 weeks in 2005) * The company expects to report a comparable store sales increase of 4 to 5 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 $135 million * Diluted earnings per share of $4.14 to $4.22 are expected for the fiscal year ending February 2, 2007 Disclosure Regarding Forward-Looking Statements
This news release includes "forward-looking statements" within the meaning of 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, 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. For more information about these and other risks and uncertainties that we are exposed to, you should read the "Risk Factors" included in our Annual Report on Form 10-K to the United States Securities and Exchange Commission and the descriptions of any material changes in those "Risk Factors" included in our subsequent Quarterly Reports on Form 10-Q.
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 2005 sales of $43.2 billion, Lowe's Companies, Inc. is a FORTUNE(R) 50 company that serves approximately 12 million customers a week at more than 1,250 home improvement stores in 49 states. Based in Mooresville, N.C., the 60-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 May 5, 2006 April 29, 2005 Current Earnings Amount Percent Amount Percent Net sales $11,921 100.00 $9,913 100.00 Cost of sales 7,752 65.03 6,515 65.72 Gross margin 4,169 34.97 3,398 34.28 Expenses: Selling, general and administrative 2,467 20.69 2,136 21.55 Store opening costs 25 0.21 25 0.25 Depreciation 274 2.30 237 2.39 Interest 35 0.30 47 0.47 Total expenses 2,801 23.50 2,445 24.66 Pre-tax earnings 1,368 11.47 953 9.62 Income tax provision 527 4.41 367 3.70 Net earnings $841 7.06 $586 5.92 Weighted average shares outstanding - Basic 778 774 Basic earnings per share $1.08 $0.76 Weighted average shares outstanding - Diluted 795 805 Diluted earnings per share $1.06 $0.73 Cash dividends per share $0.06 $0.04 Retained Earnings Balance at beginning of period $12,191 $9,597 Net earnings 841 586 Cash dividends (47) (31) Balance at end of period $12,985 $10,152 Lowe's Companies, Inc. Consolidated Balance Sheets (Unaudited) In Millions, Except Par Value Data May 5, April 29, February 3, 2006 2005 2006 Assets Current assets: Cash and cash equivalents $1,140 $787 $423 Short-term investments 517 439 453 Accounts receivable - net 20 18 18 Merchandise inventory - net 7,817 6,618 6,635 Deferred income taxes 175 136 155 Other assets 119 89 104 Total current assets 9,788 8,087 7,788 Property, less accumulated depreciation 16,760 14,310 16,354 Long-term investments 277 161 294 Other assets 203 192 203 Total assets $27,028 $22,750 $24,639 Liabilities and shareholders' equity Current liabilities: Current maturities of long-term debt $33 $631 $32 Accounts payable 4,553 3,471 2,832 Accrued salaries and wages 313 211 424 Self-insurance liabilities 613 496 571 Deferred revenue 853 689 709 Other current liabilities 1,615 1,309 1,264 Total current liabilities 7,980 6,807 5,832 Long-term debt, excluding current maturities 3,446 3,058 3,499 Deferred income taxes 717 702 735 Other long-term liabilities 304 208 277 Total liabilities 12,447 10,775 10,343 Shareholders' equity: Preferred stock - $5 par value, none issued - - - Common stock - $.50 par value; Shares issued and outstanding May 5, 2006 777 April 29, 2005 773 February 3, 2006 784 389 387 392 Capital in excess of par 1,205 1,437 1,712 Retained earnings 12,985 10,152 12,191 Accumulated other comprehensive income (loss) 2 (1) 1 Total shareholders' equity 14,581 11,975 14,296 Total liabilities and shareholders' equity $27,028 $22,750 $24,639 Lowe's Companies, Inc. Consolidated Statements of Cash Flows (Unaudited) In Millions Three Months Ended May 5, 2006 April 29, 2005 Cash flows from operating activities: Net earnings $841 $586 Adjustments to reconcile net earnings to net cash provided by operating activities: Depreciation and amortization 290 254 Deferred income taxes (44) (50) Loss on disposition/writedown of fixed and other assets 8 9 Share-based payment expense 11 16 Tax effect of stock options exercised 6 7 Changes in operating assets and liabilities: Merchandise inventory - net (1,182) (769) Other operating assets (17) (23) Accounts payable 1,721 776 Other operating liabilities 473 392 Net cash provided by operating activities 2,107 1,198 Cash flows from investing activities: Purchases of short-term investments (146) (155) Proceeds from sale/maturity of short- term investments 143 38 Purchases of long-term investments (72) (56) Proceeds from sale/maturity of long- term investments 26 - Increase in other long-term assets (3) (21) Fixed assets acquired (732) (624) Proceeds from the sale of fixed and other long-term assets 9 16 Net cash used in investing activities (775) (802) Cash flows from financing activities: Repayment of long-term debt (7) (8) Proceeds from stock options exercised 33 35 Cash dividend payments (47) (31) Repurchase of common stock (600) (135) Excess tax benefits of share-based payments 6 - Net cash used in financing activities (615) (139) Net increase in cash and cash equivalents 717 257 Cash and cash equivalents, beginning of period 423 530 Cash and cash equivalents, end of period $1,140 $787
SOURCE Lowe's Companies, Inc. -0- 05/22/2006 /CONTACT: Investors: Paul Taaffe, +1-704-758-2033, or Media: Chris Ahearn: +1-704-758-2304 / /Photo: NewsCom: http://www.newscom.com/cgi-bin/prnh/20031205/LOWLOGO AP Archive: http://photoarchive.ap.org PRN Photo Desk, email@example.com/ /Web site: http://www.lowes.com / (LOW) CO: Lowe's Companies, Inc. ST: North Carolina IN: REA CST SU: ERN CCA ERP EM -- NYM128 -- 9247 05/22/2006 07:00 EDT http://www.prnewswire.com