Lowe's Net Earnings Increase 60.3% YOY in Q4 & 24% in FY

Mooresville, NC, March 1, 2017—Lowe's reported net earnings of $663 million and diluted earnings per share of $0.74 for the quarter ended February 3 compared to net earnings of $11 million and diluted earnings per share of $0.01 in the fourth quarter of 2015.

Sales for the fourth quarter increased 19.2% to $15.8 billion from $13.2 billion in the fourth quarter of 2015, and comparable sales increased 5.1%.

For the fiscal year ended February 3, net earnings were $3.1 billion and diluted earnings per share were $3.47 compared to net earnings of $2.5 billion and diluted earnings per share of $2.73 in fiscal 2015. 

For the fiscal year, sales were $65.0 billion, a 10.1% increase over the same period a year ago, and comparable sales increased 4.2%. Comparable sales for the U.S. business increased 5.1% for the fourth quarter and 4.1% for the fiscal year.