Lowe's Companies Inc. - LOW STOCK NEWS

Lowe's Companies, Inc. (NYSE: LOW) reported a Q3 net earnings of $154 million, translating to a diluted EPS of $0.25, impacted by a $2.1 billion asset impairment charge in its Canadian retail business. However, adjusted diluted EPS rose 19.8% to $3.27. Total sales reached $23.5 billion, up from $22.9 billion last year, with U.S. comparable sales increasing by 3%. The company has raised its full-year outlook, projecting total sales of $97-98 billion and adjusted EPS of $13.65 to $13.80. Capital allocation includes $4.0 billion in share repurchases and $666 million in dividends.

Lowe's Companies, Inc. (NYSE: LOW) has declared a quarterly cash dividend of $1.05 per share, payable on February 8, 2023. Shareholders of record as of January 25, 2023 will receive this dividend. Lowe's continues to serve around 19 million customer transactions weekly across its 2,200 home improvement stores in the U.S. and Canada, generating over $96 billion in sales for fiscal year 2021.

Lowe's has partnered with Wyndham Hotels to provide stranded travelers a cozy holiday experience on one of the busiest travel days, Nov. 23. This initiative, called the Holiday Home Layover, will offer 50 specially decorated hotel rooms equipped with Lowe's products at five airports across the U.S. Customers can also shop these festive products online. This collaboration aims to ease the stress of travel disruptions by creating a warm atmosphere for those unable to reach home during the holidays. For more information, visit LowesHomeLayover.com.

Lowe's Companies, Inc. (NYSE: LOW) will host its Third Quarter 2022 Earnings Conference Call on November 16 at 9 a.m. Eastern Time. A webcast will be available on Lowe's Investor Relations website, with supplemental materials accessible 15 minutes prior to the call. A replay will be available from noon EST on November 16, 2022, to November 15, 2023. Lowe's operates around 2,200 stores and reported over $96 billion in sales for fiscal year 2021, serving approximately 19 million customers weekly across the U.S. and Canada.

Lowe's Companies (NYSE: LOW) has agreed to sell its Canadian retail operations to Sycamore Partners for $400 million in cash, plus performance-based deferred compensation. The sale will simplify Lowe's business model and is expected to close in early 2023. The Canadian segment accounts for approximately 7% of Lowe's total sales and 60 basis points of operating margin dilution for the fiscal year 2022. A pre-tax non-cash impairment charge of about $2.0 billion will be recorded due to this divestiture.

Lowe's has launched the Blue Wreath Project this Veterans Day to honor military service members. From Nov. 1 to Nov. 11, for every item purchased from this collection on Lowes.com, the company will donate $1, up to a total of $50,000, to Building Homes for Heroes.

Continuing its support for veterans, Lowe's has committed over $3 million to organizations that enhance access to housing and skilled trades education. The company also provides a 10% discount for military personnel and their families, saving nearly $1 billion annually.

As Lowe's PROvember approaches, the company unveils the PROvember Playbook to assist professionals in navigating inflation-related challenges. Recent research indicates that 86% of professionals rank inflation as a major issue. The Playbook offers insights on efficient spending and investment in tools. PROvember, starting Oct. 27, features special discounts on Pro-grade tools, rewards programs for loyal customers, and events like a Pro Happy Hour on Nov. 17. Despite economic pressures, 73% of professionals feel their jobs are more rewarding this year, indicating optimism for future projects.

Lowe's has announced its 2022 Vendor Partners of the Year, recognizing A.O. Smith, Blackstone, and Mansfield Plumbing for their excellence in quality, innovation, and service. A.O. Smith achieved double-digit sales growth in water heaters, Blackstone expanded its griddle category significantly, while Mansfield Plumbing excelled in providing plumbing fixtures. Additionally, Owens Corning was honored as Sustainability Partner of the Year for reducing greenhouse gas emissions by 60% since 2007. This recognition highlights the crucial role these suppliers play in enhancing customer satisfaction and driving sales amid economic challenges.

Lowe's has pledged $2 million to aid relief efforts in Florida following Hurricane Ian's devastation. The donation supports disaster relief partners and provides essential supplies like emergency shelter and food. More than 200 associates from Lowe's Emergency Response Team are deployed to assist affected stores and communities. The company is also activating its Emergency Command Center and distributing free cleanup supplies through bucket brigade events. Financial assistance through the Lowe's Employee Relief Fund is doubling employee donations through Oct. 31.