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Oct 29, 2021
Lowe's Q3 2021 Earnings Report
Reported sales and earnings results with consolidated comparable sales increased 2.2% and U.S. comparable sales increased 2.6%.
Key Takeaways
Lowe's Companies, Inc. reported net earnings of $1.9 billion and diluted earnings per share (EPS) of $2.73 for the quarter ended October 29, 2021. Total sales for the third quarter were $22.9 billion compared to $22.3 billion in the third quarter of 2020, and comparable sales increased 2.2%.
Consolidated Comparable Sales Increased 2.2%; U.S. Comparable Sales Increased 2.6%
U.S. Comparable Sales Increase on a Two-Year Basis of 33.7%
Third Quarter Diluted EPS of $2.73
Raises Fiscal 2021 Financial Outlook
Lowe's
Lowe's
Forward Guidance
The Company delivered very strong financial results through the first three quarters of 2021, with sales momentum continuing into November. While the business environment remains uncertain, the Company is once again raising its outlook for the operating results of Full Year Fiscal 2021.
Positive Outlook
- Revenue of approximately $95 billion, representing approximately 33% 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 12.4%.
- Total share repurchases of approximately $12 billion.
- Company expects capital expenditures of up to $2 billion.