Lowe’s reports Q4 adjusted EPS $2.28, consensus $1.68

Reports Q4 revenue $18.6B, consensus $18.45B. Comparable sales for the quarter decreased 6.2%. “This quarter we delivered strong operating profit and improved customer satisfaction, despite the continued pullback in DIY spending,” commented Marvin Ellison, Lowe’s chairman, president and CEO. “We remain confident in the long-term strength of the home improvement market, and we are making the right investments in our Total Home strategy to take share. We are also pleased to award $140 million in discretionary bonuses to our frontline associates in recognition of their exceptional customer service in 2023.”