Lowe's (LOW) Q4 2024 Earnings
GAAP EPS of $1.99 includes a $80 million pre-tax gain ($0.06 per diluted share after tax) from the contingent consideration associated with the 2022 sale of the Canadian retail business
How Did LOW Stock React to Q4 2024 Earnings?
S&P 500 over the same 30 days: −6.54%.
Did LOW Beat Earnings? Q4 2024 Results
Yes. Lowe's reported Q4 2024 earnings of $1.93 a share on Feb 26, 2025, beating the $1.84 consensus estimate by 4.8%. Revenue was $18.6B against a $18.3B estimate.
Lowe's closed out fiscal 2024 on a stronger note than Wall Street had anticipated, posting fourth-quarter adjusted diluted EPS of $1.93, beating the $1.84 consensus by 4.84%, while revenue of $18.55 billion edged past estimates of $18.29 billion by 1.44%, even as total sales slipped 0.3% year over year. The key driver behind the beat was a long-awaited return to positive comparable sales, up 0.2% after several consecutive quarters of declines, fueled by high-single-digit Pro comparable sales growth for the second straight quarter, online sales gains of 9.5%, and a boost from hurricane rebuilding demand. Gross margin expanded 46 basis points to 32.9%, underscoring improving operational execution even as DIY discretionary spending remained a headwind. The results prompted optimism that the broader home improvement sector may be stabilizing after an extended softness cycle. Looking ahead, management guided fiscal 2025 sales of $83.50 billion to $84.50 billion and diluted EPS of $12.15 to $12.40, a range that reflects ongoing caution around high interest rates and consumer spending uncertainty.
- High-single-digit Pro comparable sales for the second quarter in a row
- Online sales growth of 9.5% in Q4
- Strong holiday performance with record-breaking online sales during Black Friday/Cyber Monday
- Hurricane rebuilding efforts
- Gross margin expansion of 46 basis points year-over-year
- Comp above company average in 4 of 14 product categories including Appliances, Building Materials, Lawn & Garden, and Hardware
- 3 of 15 regions delivered comp growth above company average
“Our results this quarter were once again better-than-expected, as we continue to gain traction with our Total Home strategic initiatives.”
Lowe's CEO, on the earnings call
What Was Lowe's's Outlook in Q4 2024?
For fiscal 2025, Lowe's expects total sales of $83.5 billion to $84.5 billion, comparable sales flat to up 1%, operating margin of 12.3% to 12.4%, net interest expense of approximately $1.3 billion, depreciation and amortization of approximately $1.8 billion, an effective tax rate of approximately 24.5%, diluted EPS of approximately $12.15 to $12.40, and capital expenditures of approximately $2.5 billion. The outlook reflects continued near-term uncertainty in the home improvement market.
LOW YoY Financials
| Metric | Q4 2024 | Q4 2023 | Year over year |
|---|---|---|---|
| Revenue | $18.6B | $18.6B | −0.3% |
| Gross Profit | $6.1B | $5.6B | +9.2% |
| Operating Income | $1.8B | $1.8B | +3.6% |
| Net Income | $1.1B | $1.0B | +10.3% |
Figures from SEC filings and company reports. Not investment advice.