Lowe's Cos. has announced an increase in its fourth-quarter earnings compared to the same period last year. The recent profits amounted to $1.02 billion, translating to $1.77 per share. This represents a significant improvement from the $957 million, or $1.58 per share, recorded in the fourth quarter of the previous year.
However, the company reported a 17.1% decrease in revenue for the quarter, falling from $22.45 billion last year to $18.60 billion. Despite the drop in revenue, the increase in earnings is a positive sign.
To summarize, the fourth quarter saw Lowe's Cos. earnings stand at $1.02 billion, up from $957 million last year, with earnings per share (EPS) increasing from $1.58 to $1.77. However, the revenue decreased from $22.45 billion last year to $18.60 billion.
