Lowe's 4Q Sales Decline Slightly; Issues 2025 Outlook

By Denny Jacob

Lowe's posted lower sales in its latest quarter but its top-line didn't decline as much as some on Wall Street feared, a nod to the fact that consumers continue to spend on repair and remodel projects despite broader economic concerns.

The home improvement retailer recorded earnings of $1.13 billion, or $1.99 a share, for the fourth quarter ended Jan. 31, compared to $1.02 billion, or $1.77 a share, in the prior-year period.

Stripping out certain one-time items, earnings came in at $1.93 a share. Analysts polled by FactSet expected $1.84 a share.

Sales edged down to $18.55 billion from $18.60 billion. Analysts polled by FactSet expected $18.28 billion.

Comparable sales for the quarter increased 0.2%, boosted in part by high-single-digit Pro and online comparable sales, holiday performance, and rebuilding efforts in the wake of recent hurricanes. This was partially offset by continued near-term pressure in DIY discretionary spending.

"We remain confident in the long-term strength of the home improvement industry," said Chief Executive Marvin Ellison.

Lowe's forecast sales between $83.5 billion and $84.5 billion, with earnings per-share in the range of $12.15 to $12.40, in 2025. Analysts polled by FactSet expect sales of $84.56 billion and earnings of $12.48 a share.

Write to Denny Jacob at denny.jacob@wsj.com

Corrections & Amplifications

This article was corrected at 10:42 a.m. ET to clarify that Lowe's forecast sales is between $83.5 billion and $84.5 billion in 2025. An earlier article incorrectly stated the figures as millions.

(15:55 GMT) Correction to Lowe's 4Q Sales Decline Slightly Article

Lowe's forecast sales between $83.5 billion and $84.5 billion in 2025. "Lowe's 4Q Sales Decline Slightly; Issues 2025 Outlook" at 6:50 a.m. ET incorrectly stated the figures as millions.