📊 PRO: This Week in Visuals
LOW, ADI, DELL, CRWD, WDAY, ADSK, TGT, HPQ, ZM, NTNX, BBY, MANU
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Today at a glance:
🏠 Lowe’s: Softer Decline
⚙️ Analog Devices: Automotive Rebound
💻 Dell: AI to the Rescue
🛡️ CrowdStrike: New Milestone
👔 Workday: Mixed Forecast
🏗️ Autodesk: CFO Transition
🎯 Target: Tough Quarter
🖨️ HP: PC Recovery Delayed
🖥️ Zoom: AI Rebrand
☁️ Nutanix: Sustaining Momentum
🛒 Best Buy: Continued Decline
⚽️ Man United: Mixed Signals
1. 🏠 Lowe’s: Softer Decline
Lowe's dropped its 10-Q report this week. Q3 revenue declined by 1% to $20.2 billion ($260 million beat). Comparable sales were down just 1% versus the 3% drop analysts expected. Adjusted EPS came in at $2.89 ($0.08 beat). High interest rates and a sluggish housing market weighed on big-ticket DIY projects (similar to The Home Depot we discussed last week). However, the company saw strength in Pro sales, online performance, and spending on storm-related repairs. Smaller-ticket outdoor DIY projects provided additional support.
The company narrowed its full-year comparable sales decline forecast to 3.5%–4% (previously a range of 3.5%–4.5%) and raised its profit guidance. CEO Marvin Ellison highlighted continued investments in Pro services and adapting to evolving customer needs. Analysts remain cautious, noting that pressure on larger projects is unlikely to ease until the housing market stabilizes, which could take until late 2025.