Welcome to our dedicated page for Lowe's Companies news (Ticker: LOW), a resource for investors and traders seeking the latest updates and insights on Lowe's Companies stock.
Lowe's Companies, Inc. (NYSE: LOW) is a leading American retail company specializing in home improvement, headquartered in Mooresville, North Carolina. With over 1,700 stores across the United States, Lowe's stands as the second-largest home improvement retailer globally. The company caters to both retail do-it-yourself (DIY) enthusiasts and professional contractors, offering a wide range of products for home decorating, maintenance, repair, and remodeling.
In 2023, Lowe's divested its Canadian locations, focusing its operations exclusively within the United States. Approximately 75% of Lowe's sales come from DIY customers, while the remaining 25% is attributed to commercial and professional business clients. Recent financial reports indicate that Lowe's generated $21.4 billion in sales for the first quarter of 2024, reflecting a slight decline compared to the previous year, largely due to decreased DIY discretionary spending.
Lowe's continues to innovate and expand its offerings. The company recently launched MyLowe's Rewards, a loyalty program that provides exclusive perks and savings for DIY customers. Additionally, Lowe's is pioneering the use of advanced technologies such as the Apple Vision Pro, with the Lowe's Style Studio, an immersive 3D kitchen design tool that allows customers to visualize their dream kitchens using spatial computing.
The Lowe's Foundation is a significant part of the company's community engagement strategy. It has committed $50 million over five years to prepare 50,000 individuals for skilled trade careers through grants and training programs. Recent initiatives include the awarding of $3 million in Gable Grants to national nonprofits for innovative skilled trades training.
Lowe's also maintains a strong focus on shareholder value through disciplined capital allocation. In the most recent quarter, the company repurchased approximately 3 million shares and paid dividends totaling $633 million. Despite current economic uncertainties, Lowe's remains committed to executing its Total Home strategy, aiming to provide comprehensive solutions for all customer home improvement needs.
For more information on Lowe's latest updates and programs, visit their website at Lowes.com.
Lowe's Companies, Inc. (NYSE: LOW) has announced a 31% increase in its quarterly cash dividend, now set at $1.05 per share, payable on August 3, 2022. Shareholders of record as of July 20, 2022 will benefit from this increase, up from the previous $0.80 per share. This marks Lowe's commitment to returning capital to shareholders, with a history of consistent quarterly dividends since 1961.
In fiscal year 2021, Lowe's reported sales exceeding $96 billion, reinforcing its position as a leading home improvement retailer.
Lowe's (NYSE: LOW) reported net earnings of $2.3 billion for Q1 2022, matching the previous year, with diluted EPS of $3.51, up from $3.21 in Q1 2021. Total sales decreased to $23.7 billion from $24.4 billion, with U.S. comparable sales down 3.8%. However, pro customer sales rose by 20%. The company remains optimistic about future sales, particularly as weather improves. For FY 2022, Lowe's affirms a sales outlook of $97 to $99 billion, with EPS guidance of $13.10 to $13.60. Capital allocation included $4.1 billion for share repurchases and $537 million in dividends.
Lowe's has announced a commitment of over $15 million to support national nonprofit partners in 2022. This funding includes more than $9 million to enhance access to safe, affordable housing and $4 million for skilled trades education. The initiative aims to help communities address critical housing challenges and develop future skilled trades professionals. Additionally, Lowe's is recognizing its ongoing support for military members and veterans through partnerships with organizations like USO and AMVETS.
Lowe's Companies, Inc. (NYSE: LOW) will host its First Quarter 2022 Earnings Conference Call on May 18, 2022, at 9 a.m. Eastern time. The call will be accessible via a webcast, with supplemental materials available starting 15 minutes prior. The conference aims to provide insights into the company’s financial performance, including sales of over $96 billion in fiscal year 2021 and around 19 million customer transactions weekly. A replay of the call will be available from noon EST on May 18 until May 17, 2023.
Richard Dreiling, Lead Independent Director of Lowe's Home Improvement (NYSE:LOW) and Executive Chairman of Dollar Tree (NYSE:DLTR), has been praised by the Pulte Family for his service on the independent Board of Directors of PulteGroup (NYSE:PHM). Dreiling's leadership included a term as chair of the nominating and governance committee. Following his departure, PulteGroup has decided not to replace him, resulting in a smaller independent board with nine members. Dreiling continues his roles at Kellogg and Lowe's.
Lowe's has launched a new debt-free education program aimed at over 300,000 associates, facilitating access to educational opportunities in fields like technology and data analytics. This initiative, developed in collaboration with Guild, offers more than 50 programs across various universities, including HBCUs and HSIs. Associates will benefit from covered tuition, textbooks, and personalized support. Additionally, Lowe's continues to invest in employee development through existing tuition reimbursement programs and initiatives like Track to the Trades, further enhancing their workforce capabilities.
Lowe's Companies, Inc. (NYSE: LOW) announced the appointment of Brandon Sink as Chief Financial Officer, effective April 30, 2022. Sink, who has over 20 years of finance experience and has been with Lowe's since 2010, will succeed Dave Denton, who is leaving for another opportunity. Denton will assist in the transition. The company reaffirmed its full-year 2022 outlook, maintaining its focus on growth and disciplined capital allocation aimed at enhancing shareholder value.
Lowe's Companies, NYSE: LOW, announces that David M. Denton, the Chief Financial Officer, will participate in a fireside chat at the J.P. Morgan Retail Round-up.
This event is scheduled for April 6, 2022, at 10:00 a.m. ET. Investors can access the audio webcast at ir.lowes.com after the event.
Lowe's serves around 19 million customer transactions weekly and reported over $96 billion in sales for fiscal year 2021, operating nearly 2,200 stores across the U.S. and Canada.
Lowe's Companies, Inc. (NYSE: LOW) announced a debt offering totaling $5 billion, consisting of various notes with maturities ranging from 2027 to 2062. The breakdown includes $750 million of 3.350% Notes due 2027, $1.5 billion of 3.750% Notes due 2032, $1.5 billion of 4.250% Notes due 2052, and $1.25 billion of 4.450% Notes due 2062. Proceeds will be used for general corporate purposes, with closing expected on March 24, 2022. The offering is managed by BofA Securities, Citigroup, J.P. Morgan, and RBC Capital Markets.
Lowe's Companies, Inc. (NYSE: LOW) has announced a quarterly cash dividend of $0.80 per share, payable on May 4, 2022. Shareholders of record as of April 20, 2022 will receive this payment. In fiscal year 2021, Lowe's reported sales exceeding $96 billion and serves around 19 million customers weekly across nearly 2,200 stores in the U.S. and Canada. This announcement underscores Lowe's commitment to return value to its shareholders while continuing to support community development initiatives.
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