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MarketScreener Homepage  >  Equities  >  Nyse  >  Lowe's Companies, Inc.    LOW

LOWE'S COMPANIES, INC.

(LOW)
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Lowe : 3Q Sales Rise, Profit Shrinks

11/18/2020 | 06:35am EST

By Dave Sebastian

Lowe's Cos. said its sales for the recent quarter grew, continuing gains and yielding more online orders during the Covid-19 pandemic, though profit fell because of higher expenses.

The Mooresville, N.C.-based home-improvement retailer on Wednesday posted a profit of $692 million for the third quarter, or 91 cents a share, compared with $1.05 billion, or $1.36 a share, in the comparable quarter last year.

Adjusted earnings were $1.98 a share, meeting expectations of analysts polled by FactSet.

Sales rose 28% to $22.31 billion. Analysts were looking for $21.17 billion. Sales grew 30% for the second quarter.

Sales on Lowes.com more than doubled. Sales in all merchandising departments grew more than 15%, while all regions' sales rose more than 20%, President and Chief Executive Marvin Ellison said.

Comparable sales grew 30.1%, and comparable sales for U.S. home improvement rose 30.4%.

Selling, general and administrative expenses grew to $4.77 billion from $3.77 billion.

During the quarter, the company spent $245 million in Covid-related support for frontline hourly associates, it said.

Lowe's said it expects to buy back $3 billion in stock for the fourth quarter.

Rival Home Depot Inc. on Tuesday recorded a 23% increase in revenue on a higher profit of $3.43 billion.

Write to Dave Sebastian at dave.sebastian@wsj.com

(END) Dow Jones Newswires

11-18-20 0635ET

Stocks mentioned in the article
ChangeLast1st jan.
LOWE'S COMPANIES, INC. 0.76% 171.52 Delayed Quote.6.16%
THE HOME DEPOT, INC. 2.82% 275.75 Delayed Quote.1.02%
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Financials (USD)
Sales 2021 88 277 M - -
Net income 2021 6 029 M - -
Net Debt 2021 20 597 M - -
P/E ratio 2021 21,1x
Yield 2021 1,33%
Capitalization 125 B 125 B -
EV / Sales 2021 1,65x
EV / Sales 2022 1,77x
Nbr of Employees 260 000
Free-Float 99,9%
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Technical analysis trends LOWE'S COMPANIES, INC.
Short TermMid-TermLong Term
TrendsBullishNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 32
Average target price 189,66 $
Last Close Price 170,39 $
Spread / Highest target 26,2%
Spread / Average Target 11,3%
Spread / Lowest Target -14,9%
EPS Revisions
Managers and Directors
NameTitle
Marvin R. Ellison President, Chief Executive Officer & Director
Richard W. Dreiling Independent Chairman
David M. Denton Chief Financial Officer & Executive Vice President
Seemantini Godbole Chief Information Officer & Executive VP
Ralph Alvarez Independent Director
Sector and Competitors
1st jan.Capitalization (M$)
LOWE'S COMPANIES, INC.6.16%124 849
THE HOME DEPOT, INC.1.02%288 895
KINGFISHER PLC3.55%8 051
HOME PRODUCT CENTER0.73%6 052
SIAM GLOBAL HOUSE PUBLIC COMPANY LIMITED5.29%2 657
BHG GROUP AB-1.90%2 292