Lowe’s Cos. Reports Q1 Profit Decline
Lowe’s Cos. has reported a decrease in Q1 profit. The company’s net income for the quarter was $1.23 billion, a decline of 8.5% compared to the same period in the previous year.
Financial Performance
- Revenue: $20.65 billion, a 3.2% increase from Q1 2024
- Gross Margin: 34.1%, a decrease of 120 basis points from Q1 2024
- Operating Expenses: $14.45 billion, a 4.5% increase from Q1 2024
Stock Performance
The company’s stock price has fluctuated within a 52-week range of $206.39 to $287.01. The most recent closing price stands at $218.58.
Market Reaction
Lowe’s Cos. stock price has surpassed market expectations, despite the decline in Q1 profit. The company’s financial performance and stock price will be closely monitored by investors and analysts in the coming quarters.