Last $52.95 USD
Change Today +0.62 / 1.18%
Volume 3.0M
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As of 11:36 AM 08/21/14 All times are local (Market data is delayed by at least 15 minutes).

lowe's cos inc (LOW) Key Developments

Lowe's Companies Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended August 01, 2014; Provides Earnings Guidance for Fiscal Year Ending January 30, 2015; Expects to Open 10 Home Improvement and 5 Hardware Stores for Fiscal Year 2014

Lowe's Companies Inc. reported unaudited consolidated earnings results for the second quarter and six months ended August 01, 2014. For the quarter, the company reported net sales of USD 16,599 million compared to USD 15,711 million a year ago. Pre tax earnings were USD 1,693 million compared to USD 1,506 million a year ago. Net earnings were USD 1,039 million compared to USD 941 million a year ago. Basic and diluted earnings per share were USD 1.04 compared to USD 0.88 a year ago. Comparable sales for the quarter increased 4.4%. For the six months, the company reported net sales of USD 30,001 million compared to USD 28,800 million a year ago. Pre tax earnings were USD 2,636 million compared to USD 2,375 million a year ago. Net earnings were USD 1,663 million compared to USD 1,482 million a year ago. Diluted earnings per share were USD 1.64 compared to USD 1.36 a year ago. Comparable sales increased 2.8%. Net cash provided by operating activities was USD 3,923 million compared to USD 3,356 million a year ago. Capital expenditures were USD 384 million compared to USD 376 million a year ago. Year-to-date free cash flow of USD 3.5 billion was 19% higher than the first half of 2013. For the fiscal year ending January 30, 2015, the company total sales are expected to increase approximately 4.5%. Comparable sales are expected to increase approximately 3.5%. Earnings before interest and taxes as a percentage of sales (operating margin) are expected to increase approximately 65 basis points. The effective income tax rate is expected to be approximately 37.2%. Diluted earnings per share of approximately USD 2.63 are expected for the fiscal year 2014. Capital plan for 2014 is approximately USD 1.2 billion. This results in an estimated free cash flow of USD 2.9 billion for the year. The company expects to open approximately 10 home improvement and 5 hardware stores for fiscal year 2014.

Lowe's Companies Mulls Acquisitions

Lowe's Companies Inc. (NYSE:LOW) is looking for acquisitions in Brazil and is working with The Goldman Sachs Group, Inc. (NYSE:GS) as it searches for targets, Bloomberg reported citing people who asked not to be identified discussing private information.

Lowe's Companies Inc., Q2 2015 Earnings Call, Aug 20, 2014

Lowe's Companies Inc., Q2 2015 Earnings Call, Aug 20, 2014

Lowe's Companies Inc. Launches ProExpress

Lowe's Companies Inc. has launched ProExpress, an on-demand delivery service for professional customers. Since April 2014, these light-duty trucks have helped pro customers save their most precious asset time by making thousands of deliveries directly to business sites to meet a wide range of needs. Through the program, Lowe's has helped pros by fulfilling emergency orders such as smoke detectors to pass an inspection, or shingles to complete a job before a damaging storm. The ProExpress trucks also regularly visit businesses to restock shelves with cleaning and maintenance supplies. The ProExpress program is currently available at more than 200 Lowe's stores across the country and is designed to complement existing store delivery services by providing a resource that is fully dedicated to pro customers. The ProExpress fleet is equipped to meet customer needs as well as into the future.

Lowe's Companies Inc. Announces Availability of Devine Contact Collection

Lowe's Companies Inc. has announced the availability of the Devine Contact Collection at its locations throughout Canada. Lowe's will be offering 2 color options, Devine Falcata Oak, a rich grey washed wood that offers a contemporary design solution as well as Devine Austrian Oak, a medium brown that offers a more traditional design sense. Both are offered in the 7.25x48 inch plank. The revolutionary patent pending Contact adhesion system creates a bond that is both permanent and easily removable. It's as easy as 'Prep, Place, Press and Done'. Once it is pressed to the floor surface, the pressure activated adhesion system creates a permanent bond. The unique impregnated fabric backing allows for easy removal once the initial bond is broken with minimal vertical-force effort and leaves no adhesive residue behind. Devine Contact flooring can be used in commercial applications as well as residential environments. Devine Contact is very durable 3.0mm with a 0.30mm wear layer that is easy to clean with the occasional broom or mop and is suited for residential and light commercial application. Devine Contact comes with a 15 year residential or 8 year commercial warranty.

 

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LOW

Industry Average

Valuation LOW Industry Range
Price/Earnings 23.2x
Price/Sales 1.0x
Price/Book 4.6x
Price/Cash Flow 13.5x
TEV/Sales 0.8x
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