Lowe's Companies (LOW) Revenue — Quarter Ended Nov 3, 2023
Revenue decreased in the third quarter, falling relative to both the preceding quarter and the same quarter last year. The sequential decline was larger than the year-over-year decrease.
Key takeaway
Quarter ended Nov 3, 2023 · FY2023 Q3
Revenue decreased in the third quarter, falling relative to both the preceding quarter and the same quarter last year. The sequential decline was larger than the year-over-year decrease.
Financial snapshot
Reported revenue, sequential change, year-over-year change, and trailing four-quarter revenue.
Quarter revenue
$20.5B
Revenue reported for this quarter.
Quarter-over-quarter
-18.0%
Change from the immediately preceding quarter.
Year-over-year
-12.8%
Change from the comparable year-ago quarter.
Trailing four quarters
$90.2B
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 |
|---|---|---|
| Feb 3, 2023 | $22.4B | +5.2% |
| May 5, 2023 | $22.3B | -5.5% |
| Aug 4, 2023 | $25B | -9.2% |
| Nov 3, 2023 | $20.5B | -12.8% |
Revenue performance
Revenue declined from the immediately preceding quarter and from the same quarter one year ago. The sequential decline was more pronounced than the year-over-year decline.
Quarterly comparison
The current quarter's revenue was lower than both the prior quarter and the comparable quarter in the previous fiscal year. The year-over-year decline deepened compared with the prior quarter's year-over-year performance.
What to watch
The year-over-year revenue decline has accelerated for two consecutive quarters.