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Lowe's Q3 Sales Decline 12.8%, Earnings Rose to $1.8 Billion

Lowe’s Q3 Sales Decline 12.8%, Earnings Rose to $1.8 Billion

November 21, 2023, from Floor Focus FloorDaily News

Mooresville, NC, November 21, 2023 – Lowe’s reported Q3 2023 net sales of $20.5 billion, a 12.8% decline compared to sales of $23.5 billion in the same quarter last year. Comparable sales decreased 7.4% due to a decline in DIY discretionary spending, partially offset by positive Pro customer comp sales.

Net earnings for Q3 2023 were $1.8 billion, compared to net earnings of $154 million in the same period last year

For the first nine months of 2023, net sales were $67.8 billion, a 9.1% decline compared to net sales of $74.6 billion in the first nine months of 2022.

For the first three quarters of 2023, net earnings were $6.7 billion, a 22% increase compared to earnings of $5.5 billion in the same period last year.

Donato Pompo

Donato Pompo, CTC CMR CSI CDT MBA, is the leading tile and stone forensic expert and consultant in North America, and he is a National Tile Contractors Association Recognized Consultant. Donato is the founder of CTaSC.