Lowe’s Q3 Sales, Earnings Down

Lowe’s reported net earnings of $1.7 billion for the third quarter of fiscal 2024, a decrease from $1.8 billion in the third quarter of 2023.

Lowe's reported total sales for the third quarter were $20.2 billion, a 1.1% decrease compared to $20.5 billion in the third quarter of 2023.

The company attributed the sales decrease to a continued lull in DIY purchases, partly offset by storm-related sales.

"Our results this quarter were modestly better-than-expected, even excluding storm-related activity, driven by high-single-digit positive comps in Pro, strong online sales and smaller-ticket outdoor DIY projects," Lowe’s CEO Marvin R. Ellison said in a statement.

Read Lowe’s third quarter report here.