Latest news with #MarvinR.Ellison
Yahoo
4 days ago
- Business
- Yahoo
Lowe's to Participate in Virtual Fireside Chat Hosted by Oppenheimer & Co. Inc.
MOORESVILLE, N.C., June 4, 2025 /PRNewswire/ -- Lowe's Companies, Inc. (NYSE: LOW) announces that Marvin R. Ellison, chairman and chief executive officer, and Brandon J. Sink, chief financial officer, will participate in a virtual fireside chat hosted by Oppenheimer & Co. Inc. What: Marvin Ellison and Brandon Sink to participate in virtual fireside chat hosted by Brian Nagelfrom Oppenheimer & Co. Inc. When: 1:30 p.m. ET on Wednesday, June 11, 2025 Where: Visit Lowe's Investor Relations at for the video webcast A link will be displayed under "Events & Presentations" How: Watch live online – the archived webcast will be available at the same location approximately24 hours after the conclusion of the live event About Lowe's Lowe's Companies, Inc. (NYSE: LOW) is a FORTUNE® 100 home improvement company serving approximately 16 million customer transactions a week in the United States. With total fiscal year 2024 sales of more than $83 billion, Lowe's operates over 1,700 home improvement stores and employs approximately 300,000 associates. Based in Mooresville, N.C., Lowe's supports the communities it serves through programs focused on creating safe, affordable housing, improving community spaces, helping to develop the next generation of skilled trade experts and providing disaster relief to communities in need. For more information, visit LOW-IR Contacts: Shareholder /Analyst Inquiries: Media Inquiries:Kate Pearlman Steve Salazar704-775-3856 View original content to download multimedia: SOURCE Lowe's Companies, Inc. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
7 days ago
- Business
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Lowe's Completes Acquisition of Artisan Design Group
MOORESVILLE, N.C., June 2, 2025 /PRNewswire/ -- Lowe's Companies, Inc. (NYSE: LOW) today announced it has completed its previously announced acquisition of Artisan Design Group ("ADG"), a leading nationwide provider of design, distribution and installation services for interior surface finishes to home builders and property managers. "We are pleased to complete this transaction and officially welcome the talented ADG team to Lowe's. ADG has built an industry-leading position through consistent execution and outstanding customer service, earning strong customer satisfaction scores from the top homebuilders," said Marvin R. Ellison, Lowe's chairman, president and CEO. "This acquisition positions us to accelerate our growth in Pro planned spend and expand into an adjacent distribution channel in a highly fragmented, approximately $50 billion market." AdvisorsCenterview Partners LLC is acting as lead financial advisor to Lowe's. Greenhill, a Mizuho affiliate, is also acting as financial advisor to Lowe's. Covington & Burling LLP is acting as legal advisor to Lowe's. RBC Capital Markets is acting as lead financial advisor to ADG. Goldman Sachs and Robert W. Baird are also acting as financial advisors to ADG. Latham & Watkins LLP is acting as legal advisor to ADG. About Lowe'sLowe's is a FORTUNE® 100 home improvement company serving approximately 16 million customer transactions a week in the United States. With total fiscal year 2024 sales of more than $83 billion, Lowe's operates over 1,700 home improvement stores and employs approximately 300,000 associates. Based in Mooresville, N.C., Lowe's supports the communities it serves through programs focused on creating safe, affordable housing, improving community spaces, helping to develop the next generation of skilled trade experts and providing disaster relief to communities in need. For more information, visit Disclosure Regarding Forward-Looking StatementsThis press release includes "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Statements including words such as "believe", "expect", "anticipate", "plan", "desire", "project", "estimate", "intend", "will", "should", "could", "would", "may", "strategy", "potential", "opportunity", "outlook", "scenario", "guidance", and similar expressions are forward-looking statements. Forward-looking statements involve, among other things, expectations, projections and assumptions about future financial and operating results, objectives (including objectives related to environmental and social matters), business outlook, priorities, sales growth, shareholder value, capital expenditures, cash flows, the housing market, the home improvement industry, demand for products and services including customer acceptance of new offerings and initiatives, macroeconomic conditions and consumer spending and Lowe's strategic initiatives, including those relating to acquisitions and dispositions and the impact of such transactions on our strategic and operational plans and financial results. Such statements involve risks and uncertainties, and we can give no assurance that they will prove to be correct. Actual results may differ materially from those expressed or implied in such statements. A wide variety of potential risks, uncertainties, and other factors could materially affect our ability to achieve the results either expressed or implied by these forward-looking statements including, but not limited to, the occurrence of any event or other circumstance that could give rise to the right of one or both of the parties to terminate the merger agreement between Lowe's and ADG, the failure to obtain the requisite approvals or to satisfy the other conditions to the proposed merger on a timely basis or at all, the possibility that the anticipated benefits and synergies of the merger are not realized when expected, or at all, including as a result of the impact of, or problems arising from, the integration of the two companies or as a result of changes in general economic conditions, such as volatility and/or lack of liquidity from time to time in U.S. and world financial markets and the consequent reduced availability and/or higher cost of borrowing to Lowe's and its customers, slower rates of growth in real disposable personal income that could affect the rate of growth in consumer spending, inflation and its impacts on discretionary spending and on our costs, shortages and other disruptions in the labor supply, interest rate and currency fluctuations, home price appreciation or decreasing housing turnover, age of housing stock, the availability of consumer credit and of mortgage financing, trade policy changes or additional tariffs, outbreaks of pandemics, fluctuations in fuel and energy costs, inflation or deflation of commodity prices, natural disasters, geopolitical or armed conflicts, acts of both domestic and international terrorism, and other factors that can negatively affect our customers. Investors and others should carefully consider the foregoing factors and other uncertainties, risks and potential events including, but not limited to, those described in "Item 1A - Risk Factors" in our most recent Annual Report on Form 10-K and as may be updated from time to time in Item 1A in our quarterly reports on Form 10-Q or other subsequent filings with the SEC. All such forward-looking statements speak only as of the date they are made, and we do not undertake any obligation to update these statements other than as required by law. LOW-IR Contacts: Shareholder/Analyst Inquiries:Media Inquiries:Kate PearlmanSteve View original content to download multimedia: SOURCE Lowe's Companies, Inc.
Yahoo
30-05-2025
- Business
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LOWE'S COMPANIES, INC. ANNOUNCES INCREASE IN QUARTERLY CASH DIVIDEND TO $1.20 PER SHARE
MOORESVILLE, N.C., May 30, 2025 /PRNewswire/ -- The board of directors of Lowe's Companies, Inc. (NYSE: LOW) has declared a quarterly cash dividend of one dollar and 20 cents ($1.20) per share, payable Aug. 6, 2025, to shareholders of record as of July 23, 2025. This represents a 4% increase over the company's previous dividend of one dollar and 15 cents ($1.15) per share. "We are pleased with the ongoing transformation of the company, despite near-term challenges in the macro environment. We're evolving our Total Home strategy so that we will be well-positioned to capitalize on the expected recovery in home improvement, and we continue to make the right investments in long-term growth," said Marvin R. Ellison, Lowe's chairman, president and CEO. "This dividend increase reflects the Board's confidence in these investments, and the company's commitment to delivering sustainable shareholder value through a disciplined capital allocation strategy." Lowe's has paid a cash dividend every quarter since going public in 1961, and it has increased the dividend for more than 25 consecutive years. About Lowe's Lowe's Companies, Inc. (NYSE: LOW) is a FORTUNE® 50 home improvement company serving approximately 16 million customer transactions a week in the United States. With total fiscal year 2024 sales of more than $83 billion, Lowe's operates over 1,700 home improvement stores and employs approximately 300,000 associates. Based in Mooresville, N.C., Lowe's supports the communities it serves through programs focused on creating safe, affordable housing, improving community spaces, helping to develop the next generation of skilled trade experts and providing disaster relief to communities in need. For more information, visit Disclosure Regarding Forward-Looking StatementsThis press release includes "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Statements including words such as "believe", "expect", "anticipate", "plan", "desire", "project", "estimate", "intend", "will", "should", "could", "would", "may", "strategy", "potential", "opportunity", "outlook", "scenario", "guidance", and similar expressions are forward-looking statements. Forward-looking statements involve, among other things, expectations, projections and assumptions about future financial and operating results, objectives (including objectives related to environmental and social matters), business outlook, priorities, sales growth, shareholder value, capital expenditures, cash flows, the housing market, the home improvement industry, demand for products and services including customer acceptance of new offerings and initiatives, macroeconomic conditions and consumer spending and Lowe's strategic initiatives, including those relating to acquisitions and dispositions and the impact of such transactions on our strategic and operational plans and financial results. Such statements involve risks and uncertainties, and we can give no assurance that they will prove to be correct. Actual results may differ materially from those expressed or implied in such statements. A wide variety of potential risks, uncertainties, and other factors could materially affect our ability to achieve the results either expressed or implied by these forward-looking statements including, but not limited to, the occurrence of any event or other circumstance that could give rise to the right of one or both of the parties to terminate the merger agreement between Lowe's and ADG, the failure to obtain the requisite approvals or to satisfy the other conditions to the proposed merger on a timely basis or at all, the possibility that the anticipated benefits and synergies of the merger are not realized when expected, or at all, including as a result of the impact of, or problems arising from, the integration of the two companies or as a result of changes in general economic conditions, such as volatility and/or lack of liquidity from time to time in U.S. and world financial markets and the consequent reduced availability and/or higher cost of borrowing to Lowe's and its customers, slower rates of growth in real disposable personal income that could affect the rate of growth in consumer spending, inflation and its impacts on discretionary spending and on our costs, shortages and other disruptions in the labor supply, interest rate and currency fluctuations, home price appreciation or decreasing housing turnover, age of housing stock, the availability of consumer credit and of mortgage financing, trade policy changes or additional tariffs, outbreaks of pandemics, fluctuations in fuel and energy costs, inflation or deflation of commodity prices, natural disasters, geopolitical or armed conflicts, acts of both domestic and international terrorism, and other factors that can negatively affect our customers. Investors and others should carefully consider the foregoing factors and other uncertainties, risks and potential events including, but not limited to, those described in "Item 1A - Risk Factors" in our most recent Annual Report on Form 10-K and as may be updated from time to time in Item 1A in our quarterly reports on Form 10-Q or other subsequent filings with the SEC. All such forward-looking statements speak only as of the date they are made, and we do not undertake any obligation to update these statements other than as required by law. LOW-IR Contacts: Shareholder / Analyst Inquiries: Media Inquiries: Kate Pearlman Steve Salazar704-775-3856 View original content to download multimedia: SOURCE Lowe's Companies, Inc.
Yahoo
21-05-2025
- Business
- Yahoo
Lowe's CEO Calls Out Near-Term Housing Market Challenges But Holds The Line On Outlook
Lowe's Companies, Inc. (NYSE:LOW) on Wednesday reported mixed results for the first quarter of fiscal 2025. The company posted adjusted earnings of $2.92 per share, which beat the analyst consensus estimate of $2.89. Revenue for the quarter was down 2% year over year at $20.93 billion, which missed the analyst consensus estimate of $20.94 billion. Comparable sales fell 1.7%, with early-quarter weather headwinds partially offset by mid-single-digit growth in Pro and online margin expanded 19 basis points to 33.4% while operating income declined to $2.49 billion from $2.65 billion last year. Operating margin narrowed by 50 basis points to 11.9%. As of May 2, 2025, Lowe's operated 1,750 stores, totaling approximately 195.3 million square feet of retail selling space. 'Despite near-term uncertainty and housing market headwinds, our team's unwavering focus on exceptional customer service has elevated satisfaction scores and earned Lowe's the No. 1 ranking in Customer Satisfaction among Home Improvement Retailers by J.D. Power,' said Marvin R. Ellison, Lowe's chairman, president, and CEO. 'Strategic investments in technology, inviting store environments, and our dedicated associates continue to solidify our commitment to serving our customers and communities,' Ellison added. The company reported operating cash flow of $3.38 billion for the quarter, down from $4.26 billion a year earlier. The company reiterated its focus on disciplined capital allocation, highlighted by a $645 million dividend paid this quarter. Lowe's acknowledged tariffs as a potential risk factor but did not provide specific guidance on their impact. Lowe's forecasts 2025 EPS of $12.15–$12.40 versus the $12.23 consensus estimate. Total sales are projected between $83.5 billion and $84.5 billion, compared with analysts' expectations of $84.31 billion. Lowe's expects an operating margin of 12.3% to 12.4% and plans to spend approximately $2.5 billion on capital expenditures. Price Action: LOW shares are trading lower by 0.37% to $230.41 at last check Wednesday. Read Next:Image via Shutterstock UNLOCKED: 5 NEW TRADES EVERY WEEK. Click now to get top trade ideas daily, plus unlimited access to cutting-edge tools and strategies to gain an edge in the markets. Get the latest stock analysis from Benzinga? LOWE'S COMPANIES (LOW): Free Stock Analysis Report This article Lowe's CEO Calls Out Near-Term Housing Market Challenges But Holds The Line On Outlook originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved. Sign in to access your portfolio
Yahoo
21-05-2025
- Business
- Yahoo
LOWE'S REPORTS FIRST QUARTER 2025 SALES AND EARNINGS RESULTS
— Comparable Sales Decreased 1.7%; Diluted EPS of $2.92 —— Affirms Full Year 2025 Outlook — MOORESVILLE, N.C., May 21, 2025 /PRNewswire/ -- Lowe's Companies, Inc. (NYSE: LOW) today reported net earnings of $1.6 billion and diluted earnings per share (EPS) of $2.92 for the quarter ended May 2, 2025, compared to diluted EPS of $3.06 in the first quarter of 2024. Total sales for the quarter were $20.9 billion, compared to $21.4 billion in the prior-year quarter. Comparable sales for the quarter decreased 1.7% as unfavorable weather earlier in the quarter was partially offset by mid-single-digit Pro and online comparable sales growth. "Despite near-term uncertainty and housing market headwinds, our team's unwavering focus on exceptional customer service has elevated satisfaction scores and earned Lowe's the #1 ranking in Customer Satisfaction among Home Improvement Retailers* by J.D. Power," said Marvin R. Ellison, Lowe's chairman, president and CEO. "Strategic investments in technology, inviting store environments, and our dedicated associates continue to solidify our commitment to serving our customers and communities. I'd like to extend my appreciation to our front-line associates for the dedication and hard work especially during the busy spring season." As of May 2, 2025, Lowe's operated 1,750 stores representing 195.3 million square feet of retail selling space. Capital AllocationThe company remains committed to generating sustainable shareholder value through a disciplined capital program, as reflected in a dividend payment this quarter of $645 million. Lowe's Business Outlook The company is affirming its outlook for full year 2025. Full Year 2025 Outlook Total sales of $83.5 to $84.5 billion Comparable sales expected to be flat to up +1% as compared to prior year Operating income as a percentage of sales (operating margin) of 12.3% to 12.4% Net interest expense of approximately $1.3 billion Depreciation and Amortization expense of approximately $1.8 billion Effective income tax rate of approximately 24.5% Diluted earnings per share of approximately $12.15 to $12.40 Capital expenditures of approximately $2.5 billion A conference call to discuss first quarter 2025 operating results is scheduled for today, Wednesday, May 21, at 9 a.m. ET. The conference call will be available by webcast and can be accessed by visiting Lowe's website at and clicking on Lowe's First Quarter 2025 Earnings Conference Call Webcast. Supplemental slides will be available approximately 15 minutes prior to the start of the conference call. A replay of the call will be archived at Lowe's Companies, Inc. Lowe's Companies, Inc. (NYSE: LOW) is a FORTUNE® 50 home improvement company serving approximately 16 million customer transactions a week in the United States. With total fiscal year 2024 sales of more than $83 billion, Lowe's operates over 1,700 home improvement stores and employs approximately 300,000 associates. Based in Mooresville, N.C., Lowe's supports the communities it serves through programs focused on creating safe, affordable housing, improving community spaces, helping to develop the next generation of skilled trade experts and providing disaster relief to communities in need. For more information, visit Disclosure Regarding Forward-Looking Statements This press release includes "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Statements including words such as "believe", "expect", "anticipate", "plan", "desire", "project", "estimate", "intend", "will", "should", "could", "would", "may", "strategy", "potential", "opportunity", "outlook", "scenario", "guidance", and similar expressions are forward-looking statements. Forward-looking statements involve, among other things, expectations, projections, and assumptions about future financial and operating results, objectives (including objectives related to environmental and social matters), business outlook, priorities, sales growth, shareholder value, capital expenditures, cash flows, the housing market, the home improvement industry, demand for products and services including customer acceptance of new offerings and initiatives, macroeconomic conditions and consumer spending, share repurchases, and Lowe's strategic initiatives, including those relating to acquisitions and dispositions and the impact of such transactions on our strategic and operational plans and financial results. Such statements involve risks and uncertainties, and we can give no assurance that they will prove to be correct. Actual results may differ materially from those expressed or implied in such statements. A wide variety of potential risks, uncertainties, and other factors could materially affect our ability to achieve the results either expressed or implied by these forward-looking statements including, but not limited to, the occurrence of any event or other circumstance that could give rise to the right of one or both of the parties to terminate the merger agreement between Lowe's and ADG, the failure to obtain the requisite approvals or to satisfy the other conditions to the proposed merger on a timely basis or at all, the possibility that the anticipated benefits and synergies of the merger are not realized when expected, or at all, including as a result of the impact of, or problems arising from, the integration of the two companies or as a result of changes in general economic conditions, such as volatility and/or lack of liquidity from time to time in U.S. and world financial markets and the consequent reduced availability and/or higher cost of borrowing to Lowe's and its customers, slower rates of growth in real disposable personal income that could affect the rate of growth in consumer spending, inflation and its impacts on discretionary spending and on our costs, shortages, and other disruptions in the labor supply, interest rate and currency fluctuations, home price appreciation or decreasing housing turnover, age of housing stock, the availability of consumer credit and of mortgage financing, trade policy changes or additional tariffs, outbreaks of pandemics, fluctuations in fuel and energy costs, inflation or deflation of commodity prices, natural disasters, geopolitical or armed conflicts, acts of both domestic and international terrorism, and other factors that can negatively affect our customers. Investors and others should carefully consider the foregoing factors and other uncertainties, risks and potential events including, but not limited to, those described in "Item 1A - Risk Factors" in our most recent Annual Report on Form 10-K and as may be updated from time to time in Item 1A in our quarterly reports on Form 10-Q or other subsequent filings with the SEC. All such forward-looking statements speak only as of the date they are made, and we do not undertake any obligation to update these statements other than as required by law. LOW-IR* Lowe's received the highest score in the J.D. Power 2025 U.S. Home Improvement Retailer Satisfaction Study of customers' satisfaction with major home improvement retailers. Visit for more details. Contacts: Shareholder/Analyst Inquiries:Media Inquiries:Kate PearlmanSteve Lowe's Companies, Inc. Consolidated Statements of Current Earnings and Accumulated Deficit (Unaudited) In Millions, Except Per Share and Percentage Data Three Months EndedMay 2, 2025May 3, 2024 Current Earnings Amount% SalesAmount% Sales Net sales $ 20,930100.00$ 21,364100.00 Cost of sales 13,94466.6214,27466.81 Gross margin 6,98633.387,09033.19 Expenses:Selling, general and administrative 4,04619.334,00918.77 Depreciation and amortization 4462.134282.00 Operating income 2,49411.922,65312.42 Interest – net 3371.613521.65 Pre-tax earnings 2,15710.312,30110.77 Income tax provision 5162.475462.56 Net earnings $ 1,6417.84$ 1,7558.21 Weighted average common shares outstanding – basic 559571 Basic earnings per common share (1) $ 2.93$ 3.06 Weighted average common shares outstanding – diluted 560572 Diluted earnings per common share (1) $ 2.92$ 3.06 Cash dividends per share $ 1.15$ 1.10 Accumulated DeficitBalance at beginning of period $ (14,799)$ (15,637) Net earnings 1,6411,755 Cash dividends declared (645)(629) Share repurchases (30)(677) Balance at end of period $ (13,833)$ (15,188) (1) Under the two-class method, earnings per share is calculated using net earnings allocable to common shares, which is derived by reducing net earnings by the earnings allocable to participating securities. Net earnings allocable to common shares used in the basic and diluted earnings per share calculation were $1,636 million for the three months ended May 2, 2025, and $1,750 million for the three months ended May 3, 2024. Lowe's Companies, Inc. Consolidated Statements of Comprehensive Income (Unaudited) In Millions, Except Percentage Data Three Months EndedMay 2, 2025May 3, 2024Amount% SalesAmount% Sales Net earnings $ 1,6417.84$ 1,7558.21 Cash flow hedges – net of tax (3)(0.01)(3)(0.02) Other ——(1)— Other comprehensive loss (3)(0.01)(4)(0.02) Comprehensive income $ 1,6387.83$ 1,7518.19 Lowe's Companies, Inc. Consolidated Balance Sheets (Unaudited) In Millions, Except Par Value DataMay 2, 2025May 3, 2024 Assets Current assets: Cash and cash equivalents$ 3,054$ 3,237 Short-term investments 368264 Merchandise inventory – net18,33518,224 Other current assets9181,025 Total current assets22,67522,750 Property, less accumulated depreciation17,63617,531 Operating lease right-of-use assets3,7993,829 Long-term investments 300306 Deferred income taxes – net118115 Other assets844834 Total assets$ 45,372$ 45,365Liabilities and shareholders' deficit Current liabilities: Current maturities of long-term debt4,1831,294 Current operating lease liabilities562552 Accounts payable11,23511,737 Accrued compensation and employee benefits 853870 Deferred revenue1,5001,409 Other current liabilities4,0553,644 Total current liabilities22,38819,506 Long-term debt, excluding current maturities 30,54134,622 Noncurrent operating lease liabilities3,6693,759 Deferred revenue – Lowe's protection plans1,2661,225 Other liabilities 762859 Total liabilities58,62659,971Shareholders' deficit: Preferred stock, $5 par value: Authorized – 5.0 million shares; Issued and outstanding – none—— Common stock, $0.50 par value: Authorized – 5.6 billion shares; Issued and outstanding – 560 million and 572 million, respectively280286 Accumulated deficit(13,833)(15,188) Accumulated other comprehensive income286296 Total shareholders' deficit(13,254)(14,606) Total liabilities and shareholders' deficit$ 45,372$ 45,365 Lowe's Companies, Inc. Consolidated Statements of Cash Flows (Unaudited) In Millions Three Months EndedMay 2, 2025May 3, 2024 Cash flows from operating activities:Net earnings $ 1,641$ 1,755 Adjustments to reconcile net earnings to net cash provided by operating activities:Depreciation and amortization 507486 Noncash lease expense 131131 Deferred income taxes 126135 (Gain)/loss on property and other assets – net 20(7) Share-based payment expense 5855 Changes in operating assets and liabilities:Merchandise inventory – net (926)(1,330) Other operating assets (106)(86) Accounts payable 1,9453,033 Other operating liabilities (17)90 Net cash provided by operating activities 3,3794,262 Cash flows from investing activities:Purchases of investments (391)(277) Proceeds from sale/maturity of investments 375266 Capital expenditures (518)(382) Proceeds from sale of property and other long-term assets 215 Other – net (1)— Net cash used in investing activities (533)(378) Cash flows from financing activities:Repayment of debt (778)(22) Proceeds from issuance of common stock under share-based payment plans 215 Cash dividend payments (645)(633) Repurchases of common stock (112)(923) Other – net (20)(5) Net cash used in financing activities (1,553)(1,568) Net increase in cash and cash equivalents 1,2932,316 Cash and cash equivalents, beginning of period 1,761921 Cash and cash equivalents, end of period $ 3,054$ 3,237 View original content to download multimedia: SOURCE Lowe's Companies, Inc. 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