Lowe’s Cos. Has Strong Third Quarter

Lowe's Companies, Inc. had net earnings of $1.9 billion for the third quarter of 2021, an increase over net earnings of $692 million in the third quarter of 2020. Gross margin for the quarter was $7.6 billion and 33.1 per cent of sales compared to $7.3 billion and 32.72 per cent of sales last year. Sales were $22.9 billion compared to $22.3 billion in the year-ago period, with comparable sales up 2.2 per cent.  Comparable sales for the U.S. home improvement business increased 2.6 per cent for the third quarter. The company had sales growth of over 16 per cent for its contractor customers and 25 per cent on its eCommerce channel. Categories that had exceeded company averages include electrical, appliances, rough plumbing, flooring, building materials, and lawn and garden.