Practically mimicking rival Home Depot’s earlier earnings release, Lowe’s Q4 2024 earnings featured increased sales but a continued caution against falling sales for bigger remodeling projects as consumers are waiting because of higher interest rates and lower financial confidence. But the Pro business and an extra week in the fiscal year all led to increased sales, including positive comparable same-store sales for the first time in almost two years. Here are the full details from the call:
Inside the Numbers
- Lowe’s reported $18.6 billion in sales versus $18.3 billion estimated, while adjusted earnings per share were $1.93 compared to estimates of $1.84.
- Comparable same-store sales increased .2%.
- With the end of the fourth quarter, sales for fiscal year 2024 were $83.67 billion, very similar to fiscal 2023’s amount of $83.42 billion. Adjusted diluted earnings per share for fiscal 2024 were $12.23 compared with adjusted diluted earnings per share of $11.94 in fiscal 2023.
Key Takeaways
- Growth in Online Sales: Strong online sales contributed to a solid fourth quarter.
- Pros Continue to Be Targeted: This important demographic is one of Lowe’s top priorities as they wrestle with Home Depot to grab market share.
- Storm-Related Recovery and Rebuilding: Ongoing efforts have continued as people rebuild their lives after devastating storms.
Product Category News
- Stainmaster Is Our Newest Featured Partner: A new addition to our flooring lineup, Stainmaster brings years of exceptional customer service and satisfaction to the Lowe’s brand.
- Lowe’s Essentials: This new brand features low prices on a range of everyday products for the value-conscious consumer. Pricing for various products is $10 or below, and new launch products for under $5 are also available.
- Building Materials, Lumber and Appliances Stand Out: Positive comps in these departments, coupled with great Pro sales, were significant contributors to the quarter’s success.
Remember, this analysis is based on publicly available information and represents our interpretation of the data. We encourage you to conduct your own research and analysis to develop marketing strategies best-suited for your specific brand and target audience.
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Additional Resources
Lowe’s Q4 2024 Earnings Report: https://corporate.lowes.com/sites/lowes-corp/files/2025-02/q4-2024-earnings-release.pdf