Lowe's Companies (LOW) Revenue — Quarter Ended May 5, 2023
Lowe's reported a decline in revenue for the quarter ended May 5, 2023. Revenue decreased compared to both the immediately preceding quarter and the same quarter one year earlier.
Key takeaway
Quarter ended May 5, 2023 · FY2023 Q1
Lowe's reported a decline in revenue for the quarter ended May 5, 2023. Revenue decreased compared to both the immediately preceding quarter and the same quarter one year earlier.
Financial snapshot
Reported revenue, sequential change, year-over-year change, and trailing four-quarter revenue.
Quarter revenue
$22.3B
Revenue reported for this quarter.
Quarter-over-quarter
-0.4%
Change from the immediately preceding quarter.
Year-over-year
-5.5%
Change from the comparable year-ago quarter.
Trailing four quarters
$95.7B
Sum of the latest four reported quarters.
Quarterly revenue trend
The latest four reported quarters with year-over-year comparisons.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| Jul 29, 2022 | $27.5B | -0.3% |
| Oct 28, 2022 | $23.5B | +2.4% |
| Feb 3, 2023 | $22.4B | +5.2% |
| May 5, 2023 | $22.3B | -5.5% |
Revenue performance
Revenue fell versus the prior quarter, reflecting a modest sequential decline. The year-over-year decrease was more pronounced, continuing a trend seen in recent quarters.
Quarterly comparison
Compared to the prior quarter, revenue was slightly lower. On a year-over-year basis, the decline was larger, underscoring softer demand relative to the same period last year.
What to watch
Monitor the impact of housing market conditions and home improvement spending trends, as highlighted in the company's risk factors.