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1、1 Total second quarter sales includes an approximately$335 million headwind related to a timing shift in our fiscal calendar as we cycle over a 53-week year.2 Comparable sales are based on comparison to weeks 15-27 in 2022.August 22,2023 For 6:00 a.m.ET Release LOWES REPORTS SECOND QUARTER 2023 SALE

2、S AND EARNINGS RESULTS Comparable Sales Decreased 1.6%;Diluted EPS of$4.56 Affirms Full Year 2023 Outlook MOORESVILLE,N.C.,Aug.22,2023 Lowes Companies,Inc.(NYSE:LOW)today reported net earnings of$2.7 billion and diluted earnings per share(EPS)of$4.56 for the quarter ended Aug.4,2023,compared to dilu

3、ted EPS of$4.67 in the second quarter of 2022.Total sales for the quarter were$25.0 billion1.Comparable sales decreased 1.6%2,with strong spring recovery and Pro and online sales growth,partially offsetting lumber deflation and lower DIY discretionary demand.“Our investments in our Total Home strate

4、gy continued to drive growth across Pro and online this quarter.And we are excited by our recent launch of same-day delivery nationwide and the expansion of our rural merchandising framework to roughly 300 stores,”said Marvin R.Ellison,Lowes chairman,president and CEO.“Our ability to reduce expenses

5、 while improving customer service is the result of excellent execution by our team,and we remain confident in the mid-to long-term outlook for the home improvement industry.In recognition of the contributions of our front-line associates,we are awarding over$100 million in discretionary and profit-s

6、haring bonuses to them this quarter.I would like to thank our front-line team for serving our customers and supporting our communities.”Capital Allocation With a disciplined focus on its leading capital allocation program,the company continues to generate long-term shareholder value.During the quart