sales

Lowe’s Sales Jump 30% in Q3

Lowe’s (NYSE:LOW) business is still surging. On Wednesday, the home improvement retailer announced sales and profit results for the fiscal third quarter that ran through late October. And while revenue growth slowed compared to the prior quarter, Lowe’s continued to gain ground in a booming market for home furnishings.

Sales rose 30% in the core U.S. market, according to its quarterly filing, compared to a 35% spike in the second quarter. That result was enough to keep Lowe’s ahead of rival Home Depot (NYSE:HD) for a third straight quarter this year. The industry leader reported 25% sales gains for Q3 on Tuesday.

A man and woman paint a room together.

Image source: Getty Images.

Lowe’s also closed the profitability gap between the two businesses by notching gains on both gross and operating profit margins. Yet its 10% operating profit still trails Home Depot’s 14.5% level.

Lowe’s predicted a weaker earnings result in the fourth

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Home Depot Reports Sales Continue to Surge

Home improvement retailer Home Depot (NYSE:HD) announced strong sales and income growth in its third-quarter earnings report Tuesday. It also said that increased compensation made to frontline and hourly associates during the pandemic will be made permanent, adding about $1 billion in annual spending. 

Home Depot reported a comparable stores increase of 24.1%, with U.S. comp sales increasing 24.6%. Both revenue and earnings beat analyst expectations. Net income of $3.18 per diluted share was 26% higher than the year-ago period, and above analyst estimates of $3.06 per share, according to Refinitiv.

Front of Home Depot store

Image source: The Home Depot.

Chairman and CEO Craig Menear said in a statement the “exceptional” results reflected “the continuation of outsized demand for home improvement projects.” In the nine months ended Nov. 1, 2020, Home Depot has increased its net cash provided by operating activities by more than 60% compared to the previous-year period. 

Earlier

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Lowe’s Q2 Earnings Surge on Solid Sales Amid COVID-19 Restrictions; Buy with Target Price $190

Lowe’s Companies Inc, a home improvement retailer that distributes building materials and supplies through stores in the United States, said its net earnings surged more than 70% and total net sales jumped over 30% in the second quarter as consumers ordered more home improvement products amid COVID-19 restrictions.

The home improvement retailer reported net earnings of $2.8 billion and diluted earnings per share (EPS) of $3.74 for the quarter ended July 31, 2020, compared to net earnings of $1.7 billion and diluted EPS of $2.14 a year earlier. Second-quarter adjusted diluted EPS of $3.75 was 74% higher than adjusted diluted EPS of $2.15 same period last year.

Lowe’s said its sales for the second quarter were $27.3 billion, up from $21.0 billion in the second quarter of 2019, and comparable sales increased 34.2%.  Comparable sales for the U.S. home improvement business increased 35.1% during the period.

“We are

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Lowe’s beats sales expectations as home improvement spending surges

By Uday Sampath Kumar

(Reuters) – Lowe’s Cos Inc blew past analysts’ estimates for quarterly sales and profit on Wednesday as it benefited from a surge in demand for paint, tools and barbecue grills from consumers stuck at home due to the COVID-19 pandemic.

The company also posted a 34.2% rise in quarterly same-store sales, beating analysts’ estimates for a 13.2% increase, and said the sales momentum was carrying into August, although it would likely taper off in later months.

With a large base of do-it-yourself customers, Lowe’s has been among the chief beneficiaries of people undertaking minor home repair, painting or gardening work during the crisis.

That helped the company’s same-store sales far outpace those of larger rival Home Depot Inc , which relies more on demand from handymen and professional contractors, whose businesses have only recently started to pick up.

Wedbush Securities analysts estimate that nearly 75% of

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Home Depot Q2 Sales Jump Over 23% Amid COVID-19 Restrictions; Target $320

Home Depot Inc, the largest home improvement retailer in the United States, reported sales of $38.1 billion for the second quarter of fiscal 2020, a 23.4% increase from a year earlier as consumers ordered more home improvement products amid COVID-19 restrictions, sending its shares up about 3% in pre-market trading on Tuesday.” data-reactid=”19″Home Depot Inc, the largest home improvement retailer in the United States, reported sales of $38.1 billion for the second quarter of fiscal 2020, a 23.4% increase from a year earlier as consumers ordered more home improvement products amid COVID-19 restrictions, sending its shares up about 3% in pre-market trading on Tuesday.

The home improvement retailer said its net earnings for the second quarter of fiscal 2020 were $4.3 billion, or $4.02 per diluted share, compared with net earnings of $3.5 billion, or $3.17 per diluted share, a year earlier.

For the second

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Spectrum Brands (SPB) Q3 Earnings & Sales Beat Estimates

Spectrum Brands Holdings Inc. SPB posted better-than-expected results in third-quarter fiscal 2020. Results gained from solid demand for its products throughout the quarter. Notably, the majority of its segments delivered sturdy sales growth. However, supply-chain disruptions related to the Hardware & Home Improvement segment hurt quarterly growth to some extent.

Moving on, the company’s global productivity improvement plan savings contributed to quarterly growth. Encouragingly, this plan is anticipated to generate at least $100 million of full run-rate cost savings over the next nine to 12 months.

Despite such upsides, management withdrew the fiscal 2020 view. That said, demand remains positive for three of its four categories. Also, Spectrum Brands estimates shipments and factory output to improve in the fiscal fourth quarter.

Spectrum Brands Holdings Inc. Price, Consensus and EPS Surprise

Spectrum Brands Holdings Inc. Price, Consensus and EPS Surprise

Spectrum Brands Holdings Inc. price-consensus-eps-surprise-chart | Spectrum Brands

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