Lowe’s 3Q Sales and Earnings Up - Modern Distribution Management

Log In

Lowe’s 3Q Sales and Earnings Up

The company reported 2021 3Q net earnings of $1.9 billion and sales of $22.9 billion, according to the latest earnings announcement.

Lowe’s Companies, Inc. (NYSE: LOW), Mooresville, North Carolina, reported 2021 third-quarter net earnings of $1.9 billion and diluted earnings per share (EPS) of $2.73, compared to net earnings of $692 million and diluted EPS of $0.91 in the third quarter of 2020.

Excluding charges in the prior-year period related to the extinguishment of debt, 3Q diluted EPS of $2.73 increased 38% from adjusted diluted EPS of $1.98 in the third quarter of last year.

Total sales for 3Q were $22.9 billion, compared to $22.3 billion in the third quarter of 2020, and comparable sales increased 2.2%. Comparable sales for the U.S. home improvement business increased 2.6% for the third quarter.

“Our momentum continued this quarter, with U.S. sales comps up nearly 34% on a two-year basis, as our Total Home strategy is resonating with the Pro and DIY customer alike. In the quarter, we drove over 16% growth in Pro and 25% on Lowes.com. We also delivered operating margin expansion by driving productivity through disciplined operational execution and cost management,” said Marvin R. Ellison, Lowe’s chairman, president and CEO. “I would like to thank our front-line associates for their ongoing dedication to outstanding customer service. Looking forward, I remain confident in our ability to drive further market share gains, operating margin expansion, and long-term value for our shareholders.”

Related Posts

  • SKF, 3Q, 2021, sales, third quarter

    The company says sales for the third quarter of 2021 were SEK 20.1 billion (US$2.3…

  • The manufacturer and distributor of interior and exterior doors reported 2021 third-quarter net sales of…

  • In the latest earnings reporting p

    US Foods Holding Corp. reported that 2021 third-quarter sales were $7.9 billion, a 34.9% increase…

Share this article

About the Author
Recommended Reading
Leave a Reply

Leave a Comment

Sign Up for the MDM Update Newsletter

The MDM update newsletter is your best source for news and trends in the wholesale distribution industry.

Get the MDM Update Newsletter

Wholesale distribution news and trends delivered right to your inbox.

Sign-up for our free newsletter and get:

  • Up-to-date news in a quick-to-read format
  • Free access to webcasts, podcasts and live events
  • Exclusive whitepapers, research and reports
  • And more!


articles left

Want more Premium content from MDM?

Subscribe today and get:

  • New issues twice each month
  • Unlimited access to mdm.com, including 10+ years of archived data
  • Current trends analysis, market data and economic updates
  • Discounts on select store products and events

Subscribe to continue reading

MDM Premium Subscribers get:

  • Unlimited access to MDM.com
  • 1 year digital subscription, with new issues twice a month
  • Trends analysis, market data and quarterly economic updates
  • Deals on select store products and events



You have one free article remaining

Subscribe to MDM Premium to get unlimited access. Your subscription includes:

  • Two new issues a month
  • Access to 10+ years of archived data on mdm.com
  • Quarterly economic updates, trends analysis and market data
  • Store and event discounts

To continue reading, you must be an MDM Premium subscriber.

Join other distribution executives who use MDM Premium to optimize their business. Our insights and analysis help you enter the right new markets, turbocharge your sales and marketing efforts, identify business partners that help you scale, and stay ahead of your competitors.

Register for full access

By providing your email, you agree to receive announcements from us and our partners for our newsletter, events, surveys, and partner resources per MDM Terms & Conditions. You can withdraw consent at any time.

Learn More about Custom Reports

Request a Market Prospector Demo

  • This field is for validation purposes and should be left unchanged.