Lowe's reports better-than-expected Q3 earnings, projects $83B-$83.5B in full-year sales despite challenges.

Lowe's reported better-than-expected third-quarter earnings, with sales reaching $20.2 billion and earnings per share at $2.89. Although comparable sales were down 1.1%, the company saw strong growth in professional and online sales. Lowe's raised its full-year outlook, projecting total sales between $83 billion and $83.5 billion with a 3% to 3.5% decline in comparable sales. Despite the positive results, the company faces challenges in discretionary DIY projects and expects sales to decline year-over-year.

November 18, 2024
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