Lowe's Companies reported Q3 fiscal 2024 net sales of $20.2 billion, down 1.5% from $20.5 billion last year, with comparable sales declining 1.1%. Net earnings reached $1.7 billion, translating to diluted earnings per share of $2.99, compared to $3.06 in Q3 2023. The quarter saw a 1.3% decrease in comparable customer transactions, partially offset by a 0.2% increase in average ticket.The company demonstrated strong operational execution despite challenging market conditions, with gross margin improving 3 basis points year-over-year. Growth was driven by Building Materials, Hardware, and Seasonal & Outdoor Living categories, reflecting robust Pro customer demand and online sales. The quarter included a $54 million pre-tax gain from the Canadian retail business transaction.Looking ahead, while near-term macroeconomic uncertainties persist, Lowe's remains confident in long-term market fundamentals including home price appreciation, aging housing stock, and demographic trends. The company continues to invest in its Total Home strategy while maintaining operational discipline, with $8.7 billion in operating cash flow generated year-to-date and $2.5 billion returned to shareholders through share repurchases in the first nine months.

Lowe's Companies reported Q3 fiscal 2024 net sales of $20.2 billion, down 1.5% from $20.5 billion last year, with comparable sales declining 1.1%. Net earnings reached $1.7 billion, translating to diluted earnings per share of $2.99, compared to $3.06 in Q3 2023. The quarter saw a 1.3% decrease in comparable customer transactions, partially offset by a 0.2% increase in average ticket.The company demonstrated strong operational execution despite challenging market conditions, with gross margin improving 3 basis points year-over-year. Growth was driven by Building Materials, Hardware, and Seasonal & Outdoor Living categories, reflecting robust Pro customer demand and online sales. The quarter included a $54 million pre-tax gain from the Canadian retail business transaction.Looking ahead, while near-term macroeconomic uncertainties persist, Lowe's remains confident in long-term market fundamentals including home price appreciation, aging housing stock, and demographic trends. The company continues to invest in its Total Home strategy while maintaining operational discipline, with $8.7 billion in operating cash flow generated year-to-date and $2.5 billion returned to shareholders through share repurchases in the first nine months.