Lowe's Companies (LOW) Revenue — Quarter Ended May 3, 2024
Revenue for the quarter rose from the prior quarter but fell compared to the same period last year. The sequential improvement ended a streak of declines, though the year-over-year comparison remained negative.
Key takeaway
Quarter ended May 3, 2024 · FY2024 Q1
Revenue for the quarter rose from the prior quarter but fell compared to the same period last year. The sequential improvement ended a streak of declines, though the year-over-year comparison remained negative.
Financial snapshot
Reported revenue, sequential change, year-over-year change, and trailing four-quarter revenue.
Quarter revenue
$21.4B
Revenue reported for this quarter.
Quarter-over-quarter
+14.8%
Change from the immediately preceding quarter.
Year-over-year
-4.4%
Change from the comparable year-ago quarter.
Trailing four quarters
$85.4B
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 |
|---|---|---|
| Aug 4, 2023 | $25B | -9.2% |
| Nov 3, 2023 | $20.5B | -12.8% |
| Feb 2, 2024 | $18.6B | -17.1% |
| May 3, 2024 | $21.4B | -4.4% |
Revenue performance
Revenue increased sequentially, reflecting a rebound from the previous quarter's lower level. However, it remained below the year-ago figure.
Quarterly comparison
Compared to the immediately preceding quarter, revenue grew. Relative to the same quarter one year earlier, revenue declined.
What to watch
The year-over-year decline, while less severe than in recent quarters, indicates that demand has not yet fully recovered to prior-year levels.