Lowes Companies Stock Price, News & Analysis

Lowe's has announced a national partnership with Hubbell Incorporated, enhancing its offerings by becoming the main retailer for several top professional electrical box brands, including Bell, RACO, TayMac, and Wiegmann. This partnership aims to provide professionals with quality electrical solutions, underlining Lowe's commitment to building a strong product portfolio tailored for professionals. With fiscal year 2022 sales exceeding $97 billion, Lowe's operates over 1,700 stores and serves approximately 17 million customers weekly. The collaboration aims to reinforce Lowe's position as a leader in the home improvement sector.

Lowe's Companies, Inc. reported a net earnings of $957 million with a diluted EPS of $1.58 for Q4 2022, down from $1.78 in Q4 2021. Adjusted diluted EPS rose by 28% to $2.28. Total sales reached $22.4 billion, up from $21.3 billion year-over-year. However, U.S. comparable sales decreased by 0.7%. The company awarded $220 million in bonuses to associates and repurchased approximately 10 million shares for $2 billion. For fiscal 2023, Lowe's anticipates total sales between $88 and $90 billion, with similar comparable sales expected. The diluted EPS guidance is set at $13.60 to $14.00.

Lowe's Companies, Inc. (NYSE: LOW) will host its Fourth Quarter 2022 Earnings Conference Call on March 1, 2023, at 9 a.m. Eastern time. Investors can access the live webcast through the Investor Relations website. Supplementary materials will be available 15 minutes prior to the call. A replay of the call can be accessed from noon EST on March 1 through February 29, 2024. Lowe's serves approximately 18 million customers weekly, generating over $96 billion in fiscal year 2021 sales, with a substantial portion derived from its U.S. operations.

Lowe's has announced a partnership with Klein Tools to offer a comprehensive range of their products in Lowe's stores and on Lowes.com starting in the second half of 2023. This collaboration will provide the widest selection of Klein Tools in the home improvement retail channel, enhancing Lowe's offerings in hand tools and electrical testing. Klein Tools, a leading brand among electrical and HVAC professionals, will help drive customer traffic and credibility. With fiscal sales of over $96 billion in 2021, Lowe's aims to bolster its Pro brand and innovate its product lineup.

Lowe's Companies, Inc. (NYSE: LOW) has finalized the sale of its Canadian retail operations to Sycamore Partners, a private equity firm. The transaction marks a strategic shift for Lowe's, allowing it to concentrate on enhancing its U.S. home improvement business. CEO Marvin Ellison indicated that this focused approach aims to simplify operations and bolster profitability while delivering shareholder value. The company previously reported over $96 billion in sales for fiscal year 2021, predominantly from U.S. operations, signaling its significant market presence.

Lowe's has launched the second year of its Lowe's Hometowns initiative, a five-year program with a $100 million commitment to revitalizing community spaces. From January 24 to February 20, communities can nominate projects for funding. In 2023, 1,800 projects are expected to be completed, including 100 signature projects chosen from nominations. Last year's efforts benefited over 1.4 million people. This program emphasizes Lowe's commitment to community support and aims to enhance local facilities, housing, and cultural preservation.

Lowe's has introduced a new in-store kids' birthday party program called Build a Birthday, launching in 10 select stores across the U.S. This initiative aims to inspire creativity in children aged 5 and up through hands-on construction projects. Party packages include DIY kits for 12 kids, led by a Red Vest Party Captain, and offer upgrades like pizza and party favors. The first 50 parties booked will receive a $100 Lowe's gift card. This program builds on Lowe's existing kids' workshops and is designed to foster skills like problem-solving and creativity.

Lowe's announced the in-house management of its One Roof Media Network's advertising sales and operations, starting January 31, 2023. This strategic move aims to enhance the customer experience for brand advertisers, improving engagement and ROI. The company has invested in new ad tech and streamlined partnerships, allowing better access to first-party data and faster campaign execution. Serving over 200 clients, Lowe's media network has shown success, with some advertisers achieving returns exceeding double that of industry averages.

Lowe's Companies, Inc. (NYSE: LOW) hosted its 2022 Analyst and Investor Conference, announcing updates on strategic growth initiatives and long-term financial targets. Key highlights include a new $15 billion share repurchase program, building on a prior balance of $6.4 billion. Lowe's projects total sales of approximately $97 to $98 billion for FY 2022, with comparable sales expected to be flat to down 1%. The company remains committed to its Total Home strategy, focusing on enhancing its omnichannel capabilities, Pro penetration, and product assortment.