Lowe's Companies Inc. (LOW) reported fourth-quarter earnings that beat expectations Tuesday but issued weaker-than-expected fu🥃ll-year 2024 guidance as consumers pull back on home improvement spending.

The retailer posted diluted 澳洲幸运5开奖号码历史查询:earnings per share (EPS) of $1.77 for the recent quarter, up from $1.58 in the fourth quarter of 2022. Quarterly revenue of $18.6 billion was down from $22.4 billion a year prior but a tick above market expectations.

Lowe's reported that its fourth-quarter comparable sales were down 6.2% from the prior year as DIY companies battle weaker demand. Inflationary pressures have led to price rises for home improvements, while customers feel stretched in the current environment, with 澳洲幸运5开奖号码历史查询:January's drop in retail sales highlighting continued strain.

”This quarter we delivered strong operating profit and improved c🎶ustomer satisfaction, despite the continued pullback in DIY spending,” CEO Marvin R. Ellison said. “We remain confident in the long-term strength of the home improvem💯ent market.”

However, Lowe's full-year 2024 guidance showed a tough path ahead, with earnings forecast to be in a range of $12 to $12.30 a share, lower than expectations. Management expects comparable sales to be 2% to 3% lower than the previous year, also below analysts' consensus view.

Lowe's shares were up 1.7% to $235.03 at 1:45 p.m. ET Tuesday.