Lowe's reported Q2 2024 net earnings of $2.4 billion with diluted EPS of $4.17, down from $4.56 in Q2 2023. Total sales declined to $23.6 billion from $25.0 billion, with comparable sales decreasing 5.1% due to pressure in DIY discretionary spending and unfavorable weather impacts on seasonal categories, partially offset by positive Pro and online sales.The company maintained strong capital return to shareholders, repurchasing approximately 4.4 million shares for $1.0 billion and paying $629 million in dividends during the quarter. Additionally, a $43 million pre-tax gain was recognized from the 2022 Canadian retail business sale.Citing lower-than-expected DIY sales and macroeconomic pressures, Lowe's revised its full-year 2024 outlook downward. The company now projects total sales of $82.7-83.2 billion, comparable sales decline of 3.5-4.0%, and adjusted diluted EPS of $11.70-11.90, compared to previous guidance of $12.00-12.30.

Lowe's reported Q2 2024 net earnings of $2.4 billion with diluted EPS of $4.17, down from $4.56 in Q2 2023. Total sales declined to $23.6 billion from $25.0 billion, with comparable sales decreasing 5.1% due to pressure in DIY discretionary spending and unfavorable weather impacts on seasonal categories, partially offset by positive Pro and online sales.The company maintained strong capital return to shareholders, repurchasing approximately 4.4 million shares for $1.0 billion and paying $629 million in dividends during the quarter. Additionally, a $43 million pre-tax gain was recognized from the 2022 Canadian retail business sale.Citing lower-than-expected DIY sales and macroeconomic pressures, Lowe's revised its full-year 2024 outlook downward. The company now projects total sales of $82.7-83.2 billion, comparable sales decline of 3.5-4.0%, and adjusted diluted EPS of $11.70-11.90, compared to previous guidance of $12.00-12.30.