Home improvement chain Lowe's Companies reports net earnings of $1.8 billion for its first accounting quarter, or $3.06 per share, down nearly 17% on adjusted EPS a year earlier.

The group's sales totaled $21.4 billion, down 4.1% on a comparable basis, as the decline in expensive discretionary DIY spending was partly offset by positive trends in the Pro and online sectors.

Lowe's confirms its outlook for the full year 2024, including EPS of around $12 to $12.30, an operating margin of 12.6% to 12.7%, and sales of $84 to $85 billion, down 2% to 3% on a comparable basis.

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