Lowes Companies Stock Price, News & Analysis

Lowe's Companies, Inc. (NYSE: LOW) announced a quarterly cash dividend of $1.05 per share, payable on Nov. 2, 2022. The record date for shareholders to qualify for this dividend is Oct. 19, 2022. This decision reflects the company's ongoing commitment to returning value to its shareholders amid approximately $96 billion in fiscal year 2021 sales.

Lowe's Companies reported a net earnings of $3.0 billion and diluted EPS of $4.67 for Q2 2022, up from $4.25 in Q2 2021. Total sales dipped slightly to $27.5 billion from $27.6 billion, with U.S. comparable sales increasing 0.2%. DIY sales faced challenges due to a shortened spring, but Pro customer sales rose by 13%. The company expects 2022 total sales between $97 billion and $99 billion, with diluted EPS projected at $13.10 to $13.60. Notably, share repurchases totaled $4 billion during the quarter.

Lowe's Companies (NYSE: LOW) will host its Second Quarter 2022 Earnings Conference Call on August 17, 2022, at 9 a.m. Eastern Time. The call will be accessible via the Lowe's Investor Relations website. A replay will be available from noon EST on the same day until August 16, 2023. Lowe's serves around 19 million customer transactions weekly, with sales exceeding $96 billion in fiscal year 2021.

Lowe's has announced a donation of $500,000 to aid disaster relief for communities impacted by severe flooding in eastern Kentucky. This contribution will support various non-profit organizations providing essential services such as emergency shelter and relief supplies. In addition, Lowe's stores are distributing over 400 buckets of cleanup supplies and deploying a disaster response team to assist local efforts. The company is also enhancing support for its associates in the affected area, including matching employee donations to the Lowe's Employee Relief Fund.

Lowe's has announced its largest product sourcing event, 'Into the Blue,' aiming to invest $5 million in new suppliers. The event seeks businesses of all sizes to pitch products for inclusion in over 1,700 stores and online. Applications are open until August 14, 2022, with selected businesses pitching on November 2-3, 2022, at Lowe's Tech Hub in Charlotte, N.C. The initiative focuses on helping innovative entrepreneurs succeed and offers extensive networking and educational opportunities.

Lowe's has achieved a significant milestone by reducing its greenhouse gas emissions by 42%, four years ahead of its 2025 goal. The company invested $10 million to complete 100 community impact projects through its '100 Hometowns' initiative. In its 2021 Corporate Responsibility report, Lowe's highlights engagement with over 1.8 million people through the Generation T movement and provided more than $4.5 million in relief to employees. Looking forward, Lowe's plans to set a net-zero target by the end of 2022.

Lowe's announced its Lowe's Hometowns program, committing $100 million over five years to fund 100 community-selected impact projects across 40 states and Washington, D.C. The projects aim to revitalize essential community spaces such as shelters, parks, and schools. With notable involvement from figures like Bobby Berk and Drew Brees, Lowe's focuses on addressing urgent community needs, emphasizing their dedication to service and community improvement.

Lowe's has launched its Open 3D Product Library, offering over 500 3D product assets for free to virtual and augmented reality developers. This initiative supports builders in creating immersive environments in the metaverse, emphasizing accessibility and interoperability. Additionally, Lowe's introduces a limited NFT wearable collection for the first 1,000 participants linked to a MetaMask wallet. This endeavor reflects Lowe's commitment to merging physical and virtual home improvement experiences, demonstrating their role in the evolving metaverse landscape.

Lowe's Companies, Inc. (NYSE: LOW) announces that CEO Marvin R. Ellison and CFO Brandon J. Sink will participate in a virtual fireside chat hosted by Oppenheimer & Co. Inc. The event is scheduled for 11:00 a.m. ET on June 21, 2022. Investors can access the audio webcast on Lowe's Investor Relations website where an archived version will be available approximately 24 hours post-event. Lowe's operates nearly 2,200 stores, serving around 19 million customer transactions weekly and generating over $96 billion in fiscal 2021 sales.