SPX4,026.12-1.14 -0.03%
DIA343.52+1.57 0.46%
IXIC11,226.36-58.96 -0.52%

Lowe's Raises FY22 Adj. EPS Guidance From $13.10-$13.60 To $13.65-$13.80, Sees FY22 Total Sales $97B-~$98B., Comparable Sales Flat To Down 1%

Benzinga · 11/16/2022 06:03

ull Year 2022 Outlook -- a 53-week Year (comparisons to full year 2021 -- a 52-week year)

  • Total sales of approximately $97 – $98 billion, including the 53rd week
  • 53rd week expected to increase total sales by approximately $1.0 billion to $1.5 billion
  • Comparable sales expected to be flat to down -1% as compared to prior year
  • Gross margin rate up slightly compared to prior year
  • Depreciation and amortization of approximately $1.75 billion
  • Adjusted operating income2 as a percentage of sales (adjusted operating margin2) of 13.0%
  • Interest expense of $1.1 to $1.2 billion
  • Adjusted effective income tax rate2 of approximately 25%
  • Adjusted diluted earnings per share2 of $13.65 to $13.80 (previously $13.10 to $13.60)
  • Total share repurchases of approximately $13 billion (previously $12 billion)
  • Adjusted ROIC2 of over 37%
  • Capital expenditures of up to $2 billion