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