|Q3 2018 Earnings Press Release|
|Q3 2018 Earnings Infographic|
|Q3 2018 Reconciliation of Non-GAAP Measures|
|Q3 2018 Financial Statements|
|2017 Annual Report||2017 Form 10-K|
|2018 Proxy Statement|
|Canada Acquisition Reference Slides|
|Stores by State|
|10-year Financial Information|
|Sell-side Analyst Coverage|
|12/12/18 - Lowe's Outlines Areas of Strategic Focus at 2018 Analyst and Investor Conference|
-- Company Reiterates Guidance for Fiscal 2018 - -- Issues Guidance for Fiscal 2019 -- -- Announces New $10 Billion Share Repurchase Program -- MOORESVILLE, N.C., Dec. 12, 2018 /PRNewswire/ -- Lowe's Companies, Inc. (NYSE: LOW) is meeting today with analysts and investors in Mooresville, North Carolina to discuss its strategic priorities and near- and long-term financial targets. "We have substantially completed a detailed reassessment of our business
|12/05/18 - Lowe's Companies, Inc. Invites You to Listen to Its 2018 Analyst & Investor Conference Webcast|
MOORESVILLE, N.C., Dec. 5, 2018 /PRNewswire/ -- You are invited to listen to the Lowe's Companies, Inc. (NYSE: LOW) 2018 Analyst & Investor Conference Webcast on Wednesday, Dec. 12 beginning at 9:30 a.m. Eastern Time. The company will discuss its strategic priorities and near- and long-term financial targets. What: Lowe's 2018 Analyst & Investor Conference W
|11/20/18 - Lowe's Reports Third Quarter Sales and Earnings Results|
-- Intends to Exit Retail Operations in Mexico, Alacrity Renovation Services, and Iris Smart Home -- -- Diluted Earnings Per Share of $0.78 -- -- Adjusted Diluted Earnings Per Share (1) of $1.04 - -- Updates Fiscal 2018 Business Outlook -- MOORESVILLE, N.C., Nov. 20, 2018 /PRNewswire/ -- Lowe's Companies, Inc. (NYSE: LOW) today reported net earnings of $629 million and diluted earnings per share of $0.78 for the quarter ended Nov. 2, 2018, which included pre-tax charges of $280 milli
|11/13/18 - Lowe's Companies, Inc. Invites You to Join Its Third Quarter 2018 Earnings Conference Call Webcast|
MOORESVILLE, N.C., Nov. 13, 2018 /PRNewswire/ -- In conjunction with the Lowe's Companies, Inc. (NYSE: LOW) third quarter 2018 earnings press release, you are invited to listen to its conference call to be broadcast live over the internet on Tuesday, November 20, 2018 at 9:00 a.m. Eastern Time. Supplemental slides will be available fifteen minutes prior to the start of the conference call. What: Third Quarter 2018 Earnings Conference Ca
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|Lowe's Reports First Quarter Sales And Earnings Results|
Sales for the first quarter increased 3.0 percent to
During the quarter, the company adopted the new revenue recognition accounting standard ASU No. 2014-09. As a result, the company reclassified certain items within operating income. This change resulted in an increase to sales of approximately
"We drove solid performance in indoor categories and continued to grow our sales to Pro customers. However, prolonged unfavorable weather across geographies led to a delayed spring selling season which impacted results in outdoor categories," commented
"We continue to work diligently to improve conversion, better manage inventory and stabilize gross margin, while investing in the capabilities required to deliver simple and seamless customer experiences," Niblock added. "I'd like to thank our employees for their commitment and dedication to helping people love where they live."
Delivering on its commitment to return excess cash to shareholders, the company repurchased
A conference call to discuss first quarter 2018 operating results is scheduled for today (
Lowe's Business Outlook
The company has reflected the impact of its adoption of the new revenue recognition accounting standard in its Business Outlook, which resulted in the reclassification of certain items within operating income. Although this change has no effect on operating income, it does positively impact total sales growth by approximately 1 percent and negatively impact operating margin by approximately 10 basis points.
Fiscal Year 2018 (comparisons to fiscal year 2017; based on U.S. GAAP)
1 Adjusted diluted earnings per share is a non-GAAP financial measure. Refer to the "Non-GAAP Financial Measures Reconciliation" section of this release for additional information as well as a reconciliation between the Company's GAAP and non-GAAP financial results.
2 Includes 4 basis point net negative impact from the gain on the sale of the company's interest in its Australian joint venture (2Q 2017) and the one-time bonus paid to eligible hourly U.S. employees (4Q 2017).
Disclosure Regarding Forward-Looking Statements
This press release includes "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Statements including words such as "believe", "expect", "anticipate", "plan", "desire", "project", "estimate", "intend", "will", "should", "could", "would", "may", "strategy", "potential", "opportunity" and similar expressions are forward-looking statements. Forward-looking statements involve estimates, expectations, projections, goals, forecasts, assumptions, risks and uncertainties. Forward-looking statements include, but are not limited to, statements about future financial and operating results,
A wide variety of potential risks, uncertainties and other factors could materially affect our ability to achieve the results either expressed or implied by these forward-looking statements including, but not limited to, management and key personnel change, changes in general economic conditions, such as the rate of unemployment, interest rate and currency fluctuations, changes to tax laws applicable to corporate multinationals, such as the recently enacted U.S. Tax Cuts and Jobs Act of 2017, fuel and other energy costs, slower growth in personal income, changes in consumer spending, changes in the rate of housing turnover, the availability of consumer credit and of mortgage financing, inflation or deflation of commodity prices, and other factors that can negatively affect our customers, as well as our ability to: (i) respond to adverse trends in the housing industry, a reduced rate of growth in household formation, and slower rates of growth in housing renovation and repair activity, as well as uneven recovery in commercial building activity; (ii) secure, develop, and otherwise implement new technologies and processes necessary to realize the benefits of our strategic initiatives focused on omni-channel sales and marketing presence and enhance our efficiency; (iii) attract, train, and retain highly-qualified associates; (iv) manage our business effectively as we adapt our operating model to meet the changing expectations of our customers; (v) maintain, improve, upgrade and protect our critical information systems from data security breaches, ransomware and other cyber threats; (vi) respond to fluctuations in the prices and availability of services, supplies, and products; (vii) respond to the growth and impact of competition; (viii) address changes in existing or new laws or regulations that affect consumer credit, employment/labor, trade, product safety, transportation/logistics, energy costs, health care, tax or environmental issues; (ix) positively and effectively manage our public image and reputation and respond appropriately to unanticipated failures to maintain a high level of product and service quality that could result in a negative impact on customer confidence and adversely affect sales; and (x) effectively manage our relationships with selected suppliers of brand name products and key vendors and service providers, including third party installers. In addition, we could experience impairment losses if either the actual results of our operating stores are not consistent with the assumptions and judgments we have made in estimating future cash flows and determining asset fair values, or we are required to reduce the carrying amount of our investment in certain unconsolidated entities. With respect to acquisitions, potential risks include the effect of such transactions on
The forward-looking statements contained in this news release are expressly qualified in their entirety by the foregoing cautionary statements. The foregoing list of important factors that may affect future results is not exhaustive. When relying on forward-looking statements to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. All such forward-looking statements are based upon data available as of the date of this release or other specified date and speak only as of such date. All subsequent written and oral forward-looking statements attributable to us or any person acting on our behalf about any of the matters covered in this release are qualified by these cautionary statements and in the "Risk Factors" included in our most recent Annual Report on Form 10-K and the description of material changes thereto, if any, included in our Quarterly Reports on Form 10-Q or subsequent filings with the
To provide additional transparency, the company has presented the non-GAAP financial measure of adjusted earnings per share to exclude the impact of certain discrete items, as further described below, not contemplated in
In the first quarter of 2017, the company recognized a
Adjusted diluted earnings per share should not be considered an alternative to, or more meaningful indicator of, the company's diluted earnings per share as prepared in accordance with GAAP. The company's methods of determining this non-GAAP financial measure may differ from the method used by other companies for this or similar non-GAAP financial measures. Accordingly, this non-GAAP measure may not be comparable to the measures used by other companies.
Detailed reconciliations between the company's GAAP and non-GAAP financial results are shown below and available on the company's website at www.lowes.com/investor.
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