Lowe's Company Inc. reported net earning of $499 million for the third quarter of 2013, a 26.0 percent increase over the same period in 2012. Sales for the quarter increased 7.3 percent to $13.0 billion from 12.1 billion in 2012. The company also repurchased $761 million of stock and paid $191 million in dividends in the third quarter.
Lowe's Company Inc. reported net earning of $499 million for the third quarter of 2013, a 26.0 percent increase over the same period in 2012. Sales for the quarter increased 7.3 percent to $13.0 billion from 12.1 billion in 2012. The company also repurchased $761 million of stock and paid $191 million in dividends in the third quarter.
"This balanced performance resulted from our improved collaboration and execution within a strengthening home improvement market, combined with our employees' hard work and continued dedication to serving customers," said Robert Niblock, Lowe's chairman, president and CEO, in a statement. "The home improvement industry is poised for persisting growth in the fourth quarter and further acceleration in 2014."
