Lowe's Q2 2021 Earnings Report
Key Takeaways
Lowe's reported strong Q2 2021 results with a decrease in consolidated comparable sales by 1.6% and an increase in diluted EPS to $4.25. The company's Total Home strategy is driving growth, with notable increases in Pro and Installation Services. Lowe's is also raising its fiscal year 2021 financial outlook.
Consolidated comparable sales decreased by 1.6%, while U.S. comparable sales decreased by 2.2%.
U.S. comparable sales increased 32% on a two-year basis.
Diluted EPS reached $4.25.
The company raised its fiscal year 2021 financial outlook.
Lowe's
Lowe's
Forward Guidance
The Company delivered very strong financial results in the first half of 2021, with strong sales trends continuing into August. While the business environment remains uncertain, the Company is raising its outlook for the operating results of Full Year Fiscal 2021.
Positive Outlook
- Revenue of approximately $92 billion, representing approximately 30% comparable sales growth on a two-year basis.
- Gross margin rate up slightly, compared to prior year.
- Operating income as a percentage of sales (operating margin) of 12.2%.
- Share repurchase of a minimum of $9 billion.
- Capital expenditures of approximately $2 billion.