Lowe’s Companies, Inc. (NYSE: LOW) of Mooresville, North Carolina, reported 2021 fourth-quarter total sales of $21.3 billion, roughly $1 billion more than 4Q of 2020.
The company also reported 4Q net earnings of $1.2 billion and diluted earnings per share of $1.78 for the quarter ended January 28, 2022, compared to net earnings of $978 million and diluted EPS of $1.32 in the same period a year prior.
Comparable sales for the U.S. home improvement business increased 5.1% in 4Q, while pro customer sales increased 23%, the company said.
“We delivered another year of outstanding performance in 2021, as we gained market share across DIY and Pro through our Total Home strategy,” said Marvin R. Ellison, Lowe’s chairman, president and CEO. “I would like to thank our front-line associates for their tremendous efforts this year. In 2021, we increased comparable sales by 6.9% while generating over 170 basis points of operating margin improvement, with our relentless focus on productivity and enhanced pricing strategies. We remain confident in the long-term strength of the home improvement market, and our ability to expand operating margin.”