Lowe’s Unveils 2025 Total Home Strategy to Drive Long-Term Growth and Market Share

The company is affirming its outlook for full year 2024

Adjusted operating income, adjusted operating margin, adjusted effective income tax rate and adjusted diluted EPS are non-GAAP financial measures that exclude the gains associated with the 2022 sale of the Canadian retail business, recorded in the second and third quarter. The company does not provide a reconciliation for non-GAAP estimates on a forward-looking basis where it is unable to provide a meaningful or accurate calculation or estimation of reconciling items (which may be significant) without unreasonable effort, including timing of adjustments associated with the sale of the Canadian retail business.
Full Year 2024 Outlook
•Total sales of $83.0 to $83.5 billion
•Comparable sales expected to be down -3.0% to -3.5% as compared to prior year
•Adjusted operating income as a percentage of sales (adjusted operating margin) of 12.3% to 12.4%
•Net interest expense of approximately $1.3 billion
•Adjusted effective income tax rate of approximately 24.5%
•Adjusted diluted earnings per share of approximately $11.80 to $11.90
•Capital expenditures of approximately $2 billion

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