logo
  

Lowe's Reiterates FY21 Sales Outlook - Quick Facts

Ahead of its 2022 financial outlook webcast later on Wednesday, home improvement company Lowe's Companies, Inc. (LOW) reiterated its total sales outlook for the full-year 2021 and initiated guidance for the full-year 2022.

For fiscal 2021, the company continues to projects revenue of approximately $95 billion, representing approximately 33% comparable sales growth on a two-year basis. The Street is looking for revenues of $95.65 billion for the year.

Looking ahead to fiscal 2022, the company now expects earnings in a range of $12.25 to $13.00 per share on total sales between $94 billion and $97 billion, including the 53rd week, which is expected to increase total sales by approximately $1.0 billion to $1.5 billion. Comparable sales expected to range from a decline of 3% to flat.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $12.94 per share on revenues of $97.66 billion for the year. Analysts' estimates typically exclude special items.

Further, the Board of Directors has authorized a new $13 billion common stock repurchase program. This new repurchase program has no expiration date and adds to the previous program's balance, which was $7.3 billion as of December 14, 2021. The company now has total share repurchase authorization of approximately $20 billion.

At today's webcast presentations, the company will include its priorities for 2022 with a focus on its Total Home Strategy aimed at taking market share, driving productivity, and providing an integrated omni-channel shopping experience.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
The U.S. Food and Drug Administration or FDA has urged infant formula manufacturers to import infant formula products to the United States to meet the ongoing severe supply shortage. In order to further increase the availability of infant formula in the country, while protecting the health of infants, the regulator announced a guidance outlining increased flexibilities for the global manufacturers Retail giant Walmart Inc. reported Tuesday a profit for the first quarter of fiscal 2023 that declined 24.8 percent from last year, hurt by lower gross margins and net losses on equity investments. Adjusted earnings per share also missed analysts' expectations, but quarterly revenues topped it. The retailer also cut its earnings guidance for the second quarter and for the full-year 2023. Billionaire and Tesla CEO Elon Musk, who is in deal to acquire Twitter Inc., may seek a lower price for the social media platform as he estimates that there could be at least four times more fake accounts than what the company informed, Reuters reported. It was in late April that Twitter agreed to accept Musk's about $44 billion takeover offer and to become a privately held company.
Follow RTT