Lowe's Quarterly Earnings Up 8.4% YOY

Mooresville, NC, August 19, 2015—Lowe's Companies, Inc. has reported net earnings of $1.13 billion for the quarter ended July 31, an 8.4% increase over the same period a year ago, and diluted earnings per share increased 15.4% to $1.20 from $1.04 in the second quarter of 2014.

Sales for the first quarter of 2015 were $673 million.

For the six months ended July 31, net earnings increased 8.2% from the same period a year ago to $1.80 billion, and diluted earnings per share increased 15.9% to $1.90.

Sales for the second quarter increased 4.5% to $17.3 billion from $16.6 billion in the second quarter of 2014, and comparable sales increased 4.3%.

For the six month period, sales were $31.5 billion, a 4.9% increase over the same period a year ago, and comparable sales increased 4.7%. Comparable sales for the U.S. home improvement business increased 4.6% for the second quarter and 4.9 percent for the six month period.

As of July 31, Lowe's operated 1,846 home improvement and hardware stores in the United States, Canada and Mexico representing 201.4 million square feet of retail selling space.