Lowe’s Q4 2022 Sales and Earnings Report: A Closer Look

Lowe's earnings report

Lowe’s Companies has announced its sales and earnings results for the fourth quarter of 2022. The company reported net earnings of $957 million, or $1.58 diluted earnings per share (EPS), compared to $1.78 diluted EPS in the same period last year. Total sales for the quarter were $22.4 billion, with a 1.5% decrease in comparable sales. The company also awarded $220 million in bonuses to its associates. Lowe’s Companies (NYE:LOW) has introduced its outlook for fiscal 2023, which includes total sales of approximately $88-$90 billion, operating income as a percentage of sales of 13.6% to 13.8%, and diluted EPS of $13.60 to $14.00.

Lowe’s plans to make capital expenditures of up to $2 billion in fiscal 2023. Despite the challenging environment, the company’s Total Home strategy continued to make progress, with a 10% growth in Pro sales and a 5% increase in Lowes.com sales. The company also demonstrated its commitment to returning value to shareholders through share repurchases and dividends, totaling $16.5 billion in 2022. Looking ahead, Lowe’s is focused on driving long-term growth and productivity across the company. A conference call to discuss the company’s Q4 2022 operating results is scheduled for March 1st. The call will be available by webcast and can be accessed on Lowe’s website.

Lowe’s Companies Inc Stock Analysis

Lowe’s Companies Inc. has been analyzed by 22 analysts who have predicted an average target price of USD 230.88 for the company over the next 12 months. The analysts’ consensus ratings for Lowe’s Companies Inc. is Buy. According to Stock Target Advisor’s analysis, Lowe’s Companies Inc’s stock is Slightly Bullish based on 7 positive signals and 5 negative signals. As of the last closing, Lowe’s Companies Inc’s stock price was USD 205.75. In the past week, the stock price has increased by 1.93%, in the past month by 1.61%, and decreased by 6.93% over the past year.

Company Overview

Lowe’s Companies, Inc. is a home improvement retailer operating in the US and internationally. It offers products for construction, maintenance, repair, remodeling, and decorating, including appliances, seasonal and outdoor living, lumber, and kitchen and bath products. The company provides installation services, protection plans, and in-warranty and out-of-warranty repair services. It sells both national brand-name merchandise and private brand products through its websites and mobile applications. Lowe’s Companies, Inc. was founded in 1921 and is headquartered in Mooresville, North Carolina.

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