Lowe’s reported net earnings of $1.12 billion in the fourth quarter of 2024, compared with $1.02 billion in the fourth quarter of 2023.
Total sales for the fourth quarter were $18.55 billion, compared with $18.60 billion in the fourth quarter of 2023.
Comparable sales for the quarter increased by 0.2%, driven by high pro and online comparable sales, strong holiday performance, and rebuilding efforts after the fall's hurricanes.
“Our results this quarter were once again better-than-expected, as we continue to gain traction with our Total Home strategic initiatives,” Lowe's CEO Marvin R. Ellison said in a statement. “We remain confident in the long-term strength of the home improvement industry, and we are equally confident in our strategy to capitalize on the expected recovery. We are also pleased to award $80 million in discretionary bonuses to our frontline associates in recognition of their hard work and dedication to delivering excellent customer service.”
As of Jan. 31, 2025, Lowe’s operated 1,748 stores representing 195.0 million square feet of retail selling space.
Read the full fourth-quarter report here.
