LOW Stock Recent News

CNBC's Melissa Repko joins 'Power Lunch' to discuss retail earnings from Macy's and Lowe's.

UPDATE—May 21, 2024: This article has been updated to reflect more recent share price information.

Home improvement retail chain Lowe's (LOW) beat earnings estimates for its first quarter, sharing revenue of $21.36 billion and gains of $3.06 per share. Lowe's saw fewer consumers roll up their sleeves and spend big on DIY home projects, but CEO Marvin Ellison isn't so worried as loyalty programs and online spending are reportedly offsetting any pull back concerns.

Lowe's Companies, Inc. (NYSE:LOW ) Q1 2024 Results Conference Call May 21, 2024 9:00 AM ET Company Participants Kate Pearlman - VP, IR & Treasurer Marvin Ellison - Chairman & CEO Bill Boltz - EVP, Merchandising Joe McFarland - EVP, Stores Brandon Sink - EVP & CFO Conference Call Participants Christian Carlino - JPMorgan Steven Forbes - Guggenheim Securities Simeon Gutman - Morgan Stanley Michael Lasser - UBS Greg Melich - Evercore ISI Seth Sigman - Barclays Peter Benedict - Baird Jonathan Matuszewski - Jefferies Operator Good morning, everyone. Welcome to Lowe's Companies First Quarter 2024 Earnings Conference Call.

Pre-market futures are mixed at this hour. Coming off a new slightly higher record close for the Nasdaq yesterday, the tech-heavy index is down around -30 points.

The home improvement sector is getting its affairs in order while eyeing a macro improvement. That's the news from home improvement retailer Lowe's, which cited softer demand and ongoing headwinds — including a slowdown in home sales, higher interest rates and a pullback in consumer spending — during a first-quarter 2024 earnings call Tuesday (May 21).

The home improvement sector is getting its affairs in order while eyeing a macro improvement. That's the news from home improvement retailer Lowe's, which cited softer demand and ongoing headwinds — including a slowdown in home sales, higher interest rates and a pullback in consumer spending — during a first-quarter 2024 earnings call Tuesday (May 21).

Lowe's (LOW) first-quarter fiscal 2024 results reflect a reduction in Do-It-Yourself discretionary spending. Comparable sales for the quarter decline 4.1%.

Shares of Lowe's Companies NYSE: LOW corrected to critical support levels ahead of the Q1 release, setting up a buying opportunity confirmed in its aftermath. The results are not strong but highlight the differentiation between the company and its largest competitor, The Home Depot NYSE: HD, which trails in key spring segments.

Shares of Lowe's Companies NYSE: LOW corrected to critical support levels ahead of the Q1 release, setting up a buying opportunity confirmed in its aftermath. The results are not strong but highlight the differentiation between the company and its largest competitor, The Home Depot NYSE: HD, which trails in key spring segments.