Lowe's Companies (LOW) Revenue — Quarter Ended Feb 2, 2024
The reported revenue declined compared to the prior quarter and fell even more sharply relative to the same quarter last year. This continues a pattern of decreasing quarterly revenue throughout the fiscal year.
Key takeaway
Quarter ended Feb 2, 2024 · FY2023 Q4
The reported revenue declined compared to the prior quarter and fell even more sharply relative to the same quarter last year. This continues a pattern of decreasing quarterly revenue throughout the fiscal year.
Financial snapshot
Reported revenue, sequential change, year-over-year change, and trailing four-quarter revenue.
Quarter revenue
$18.6B
Revenue reported for this quarter.
Quarter-over-quarter
-9.1%
Change from the immediately preceding quarter.
Year-over-year
-17.1%
Change from the comparable year-ago quarter.
Trailing four quarters
$86.4B
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 |
|---|---|---|
| May 5, 2023 | $22.3B | -5.5% |
| Aug 4, 2023 | $25B | -9.2% |
| Nov 3, 2023 | $20.5B | -12.8% |
| Feb 2, 2024 | $18.6B | -17.1% |
Revenue performance
Revenue in the reporting period contracted from the immediately preceding quarter, reflecting persistent headwinds. The year-over-year decline was steeper than the sequential drop, indicating a more challenging environment compared to a year ago.
Quarterly comparison
Compared to the prior quarter, revenue decreased, and the drop deepened when measured against the same period a year earlier. The trend data shows consecutive quarterly declines over the past year.
What to watch
The ongoing revenue contraction warrants close monitoring of the company's near-term performance.