Lowe's reported Q2 2024 net sales of $23.6B, down 5.5% YoY, with comparable sales declining 5.1%. Net earnings were $2.4B, resulting in diluted EPS of $4.17, compared to $4.56 in Q2 2023. Adjusted EPS excluding a $43M gain from the Canadian retail business sale was $4.10.The sales decline was driven by softness in DIY demand and unfavorable weather impacting seasonal categories. However, Pro customer and online sales showed positive growth. Despite sales pressure, Lowe's delivered strong operating performance through disciplined expense management and Perpetual Productivity Improvement initiatives.While near-term macroeconomic conditions remain uncertain, Lowe's sees strong long-term drivers for home improvement demand. The company plans to continue investing in technology and innovation as part of its Total Home strategy while maintaining operational discipline. Management remains confident in Lowe's positioning for market share growth when the home improvement market recovers.

Lowe's reported Q2 2024 net sales of $23.6B, down 5.5% YoY, with comparable sales declining 5.1%. Net earnings were $2.4B, resulting in diluted EPS of $4.17, compared to $4.56 in Q2 2023. Adjusted EPS excluding a $43M gain from the Canadian retail business sale was $4.10.The sales decline was driven by softness in DIY demand and unfavorable weather impacting seasonal categories. However, Pro customer and online sales showed positive growth. Despite sales pressure, Lowe's delivered strong operating performance through disciplined expense management and Perpetual Productivity Improvement initiatives.While near-term macroeconomic conditions remain uncertain, Lowe's sees strong long-term drivers for home improvement demand. The company plans to continue investing in technology and innovation as part of its Total Home strategy while maintaining operational discipline. Management remains confident in Lowe's positioning for market share growth when the home improvement market recovers.