Lowe's Companies last posted its quarterly earnings data on November 17th, 2020. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating indiv idual securities. Under the two-class method, earnings per share is calculated using net earnings allocable to common shares, which is derived by reducing net earnings by the earnings allocable to participating securities. Consolidated Statements of Comprehensive Income (Unaudited), Foreign currency translation adjustments – net of tax, Accrued compensation and employee benefits, Long-term debt, excluding current maturities, Deferred revenue – extended protection plans, Preferred stock, $5 par value: Authorized – 5.0 million shares; Issued and outstanding – none, Common stock, $0.50 par value: Authorized – 5.6 billion shares; Issued and outstanding – 752 million, 768 million, and 763 million shares, respectively, Total liabilities and shareholders' equity, Consolidated Statements of Cash Flows (Unaudited). For more information, visit Lowes.com. Each of the company logos represented herein are trademarks of Verizon Media; Microsoft Corporation; Nasdaq, Inc.; Dow Jones & Company; Forbes Media, LLC; Investor's Business Daily, Inc.; and Morningstar, Inc. Good morning, everyone, and welcome to Lowe's Companies third-quarter 2020 earnings conference call. ET In fact, such trends are likely to have favored the company’s U.S. home-improvement business during the third quarter. Effective income tax rate of approximately 27%. Experts extracted 7 stocks from the list of 220 Zacks Rank #1 Strong Buys that has beaten the market more than 2X over with a stunning average gain of +24.3% per year.These 7 were selected because of their superior potential for immediate breakout.See these time-sensitive tickers now >>, The Home Depot, Inc. (HD) - free report >>, Lowes Companies, Inc. (LOW) - free report >>, Beacon Roofing Supply, Inc. (BECN) - free report >>. Good morning everyone and welcome to Lowe’s Companies third quarter 2020 earnings conference call. 2 The Company expects to complete the reset of over 90% of its U.S. stores by the end of the fiscal year. Lowe’s Cos Inc. slumped after reporting third-quarter earnings that narrowly missed analysts’ expectations, underscoring rising costs at home-improvement retailers that … Property of Vertiv. Skip to main content Who We Are Who We Are. Adjusted operating income as a percentage of sales (adjusted operating margin) is expected to be essentially flat to prior-year levels, given ongoing COVID-related operating expenses, $150 million expense related to the reset of the layout of our U.S. stores, and investments in expanding the supply chain network.2. Zacks Rank stock-rating system returns are computed monthly based on the beginning of the month and end of the month Zacks Rank stock prices plus any dividends received during that particular month. CHICAGO, Oct. 20, 2020 /PRNewswire/ -- CNA Financial Corporation (NYSE: CNA) will report third quarter 2020 results before the market opens on Monday, November 2, 2020. Expected repurchase of approximately $3.0 billion of stock. This report reveals the 7 stocks predicted to have the most explosive gains over the next 30-90 days. If you wish to go to ZacksTrade, click OK. Lowe's Companies, Inc. (LOW Quick Quote LOW - Free Report) is likely to register top and bottom-line growth when it reports third-quarter fiscal 2020 numbers on … Lowe's is likely to have some good news for investors in its fiscal third-quarter earnings announcement. Quarterly Earnings. The home improvement retailer’s third-quarter results, due out on … To provide additional transparency, the Company has presented the non-GAAP financial measure of adjusted diluted earnings per share for comparing its operating performance for the three months ended October 30, 2020, with the respective period ended November 1, 2019. As of October 30, 2020, Lowe's operated 1,969 home improvement and hardware stores in the United States and Canada representing 208 million square feet of retail selling space. An improving housing market scenario has also been acting as a tailwind.Additionally, we expect Lowe's fiscal third-quarter performance to have benefited from its solid retail fundamental strategy, gains from investments in technology and impressive merchandising strategies. Our omni-channel transformation continued in the third quarter with further investments in Lowes.com and our supply chain. Total and comparable sales growth of approximately 15 to 20 percent. and triple-digit growth online. You can see the complete list of today’s Zacks #1 Rank stocks here.The Home Depot, Inc. (HD Quick QuoteHD - Free Report) has an Earnings ESP of +5.98% and a Zacks Rank #3.Fastenal Company (FAST Quick QuoteFAST - Free Report) has an Earnings ESP of +1.33% and a Zacks Rank #3. MOORESVILLE, N.C., Nov. 18, 2020 /PRNewswire/ -- Lowe's Companies, Inc. (NYSE: LOW) today reported net earnings of $692 million and diluted earnings per share (EPS) of $0.91 for the quarter ended October 30, 2020, which included a $1.1 billion pre-tax loss on extinguishment of debt in connection with the company's third quarter $3.0 billion cash tender offer, compared to net earnings of $1.0 billion and diluted EPS of $1.36 in the third quarter of 2019. MOORESVILLE, N.C., Nov. 18, 2020 -- Lowe's Companies, Inc. (NYSE: LOW) today reported net earnings of $692 million and diluted earnings per share (EPS) of $0.91 for the quarter ended October 30, 2020, which included a $1.1 billion pre-tax loss on extinguishment of debt in connection with the company's third quarter $3.0 … Net earnings allocable to common shares used in the basic and diluted earnings per share calculation were $689 million for the three months ended October 30, 2020 and $1,046 million for the three months ended November 1, 2019. Forward-looking statements involve, among other things, expectations, projections, and assumptions about future financial and operating results, objectives, business outlook, priorities, sales growth, shareholder value, capital expenditures, cash flows, the housing market, the home improvement industry, demand for products and services, share repurchases, Lowe's strategic initiatives, including those relating to acquisitions and dispositions and the impact of such transactions on our strategic and operational plans and financial results. 1 Adjusted diluted earnings per share is a non-GAAP financial measure. During fiscal 2019, the Company recognized financial impacts from the following discrete item, not contemplated in the Company's Business Outlook for the third quarter of fiscal 2019: During the third quarter of fiscal 2019, the Company began a strategic review of its Canadian operations, and as a result, recognized pre-tax charges of $53 million associated with long-lived asset impairment (Canada restructuring). Diluted earnings per share and adjusted diluted earnings per share1 of $1.10 - $1.20. To learn more, click here. In this context, the company has been gaining from the migration of Lowes.com to the cloud as well as the rollout of curbside pickup. Press Release Lowe's Companies, Inc. Lowe's Companies Misses Lowe's Companies (LOW) reported 3rd Quarter October 2020 earnings of $1.98 per share on revenue of $22.3 billion. Such prudent measures are likely to have boosted the company’s online sales during the quarter under review.The aforementioned factors raise optimism regarding third-quarter results. In the third quarter ended Nov. 1, Lowe's said net income grew to $1.05 billion, or $1.36 per share, from $629 million, or 78 cents per share, a year earlier. We use cookies to understand how you use our site and to improve your experience. Invites You to Join Its Third Quarter 2020 Earnings Conference Call Webcast Published: Nov. 11, 2020 at 9:00 a.m. Lowe's reports blowout quarter with 30% surge in revenue Published Wed, Aug 19 2020 6:11 AM EDT Updated Wed, Aug 19 2020 1:28 PM EDT Melissa Repko @melissa_repko Lowe's is scheduled to report fiscal third-quarter earnings before the market open on Wednesday. While the business environment remains uncertain, the Company is providing the following outlook for the operating results of the fourth quarter of 2020. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. Real time prices by BATS. Only Zacks Rank stocks included in Zacks hypothetical portfolios at the beginning of each month are included in the return calculations. Lowe's Companies, Inc. (NYSE: LOW) is a FORTUNE® 50 home improvement company serving approximately 18 million customers a week in the United States and Canada. In the third quarter of fiscal 2020, the Company recognized a $1.1 billion loss on extinguishment of debt in connection with a $3.0 billion cash tender offer (Loss on extinguishment of debt). Consolidated Statements of Current and Retained Earnings (Unaudited), In Millions, Except Per Share and Percentage Data, Weighted average common shares outstanding – basic, Weighted average common shares outstanding – diluted. Cautionary Statement Regarding Forward-Looking Statements 2 This presentation, and other statements that Vertiv Holdings Co. (“Company”) may make, may contain forward-looking statements within the meaning of the Private Securities … The Zacks Rank #3 company has an Earnings ESP of +7.78% for the third quarter of fiscal 2020 (ended October 2020). For the first quarter ended May 1, Lowe's reported that net income rose 27.6% to $1.34 billion, or $1.76 per share, compared to earnings of $1.05 billion, or $1.31 per share, a year ago. Also, higher demand from DIY (do-it-yourself) and pro customers across channels is likely to have remained an upside. Here are some more companies you may want to consider, as our model shows that these have the right combination of elements to post an earnings beat.Beacon Roofing Supply, Inc. (BECN Quick QuoteBECN - Free Report) has an Earnings ESP of +3.38% and a Zacks Rank #2, at present. Revenue declined in the quarter as lower net interest margin … Lowe's top line during the third quarter is likely to have gained from consumers’ growing inclination toward home remodeling and maintenance activities. Based in Mooresville, N.C., Lowe's supports the communities it serves through programs focused on creating safe, affordable housing and helping to develop the next generation of skilled trade experts. Lowe’s stock price rose due to its strong third-quarter performance and analysts’ raising their 2020 EPS guidance. It invested $245 million in Covid-related support for its hourly employees in the third quarter… Lowe's Companies last posted its quarterly earnings data on November 17th, 2020. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms and Conditions of Service. Copyright 2021 Zacks Investment Research | 10 S Riverside Plaza Suite #1600 | Chicago, IL 60606. I remain confident that we are making the right strategic investments to deliver sustainable, long-term growth. NASDAQ data is at least 15 minutes delayed. The conference call will be available by webcast and can be accessed by visiting Lowe's website at ir.lowes.com and clicking on Lowe's Third Quarter 2020 Earnings Conference Call Webcast. The news release, earnings presentation and financial supplement will be available on CNA's website at www.cna.com.. A conference call for investors and analysts is scheduled for 8 a.m. CT and … Newsroom Newsroom. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. The conference call to discuss third quarter with further investments in self-service lockers, are encouraging further in... Any analyst opinion/rating/report or any approach to evaluating indiv idual Securities has a trailing four-quarter earnings surprise of %. 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