Q3 FY2025 Overview
Here’s what changes and why it matters: Lowe’s posted higher sales and returned to slight comparable growth. The results suggest stabilization in core demand, even as big-ticket activity remains uneven according to available reports.
By the numbers:
- Total sales: $20.8 billion, up from $20.2 billion a year ago.[1]
- Comparable sales: +0.4% year over year.[1] [2]
The uptick was modest, yet it marks progress versus earlier softness. Moreover, it sets the baseline for a cautiously improved second half.[1] [2]
Digital Sales Drive Growth
Digital did the heavy lifting this quarter. Online sales rose 11.4%, driving the positive comp.[1] [2]
This channel mix matters because digital orders often carry attach opportunities and better visibility into demand. Additionally, it signals customer willingness to shop projects online, even as discretionary purchases remain selective.[1] [2]
Earnings Performance
Profitability held up. Adjusted diluted EPS reached $3.06, above analyst estimates, while reported EPS came in at $2.88.[1] [2] [3]
By the numbers:
- Adjusted EPS: $3.06, up 5.9% year over year.[1]
- Street context: Coverage cited beats versus consensus.[2] [3]
However, reported EPS reflected certain costs, which management excluded from adjusted figures. Still, the beat indicates disciplined cost control and resilient mix.[1] [2] [3]
Early Q4 Indicators
Management said November began with positive comparable sales.[1] [2] As a result, the company entered Q4 with early momentum.
Nevertheless, one month does not make a quarter. But the early read helps validate the guidance update.[1] [2]
Updated FY2025 Outlook
Lowe’s raised its full-year sales outlook to $86.0 billion, with flat comparable sales and an adjusted EPS target around $12.25.[1] [2] The company also guided to an adjusted operating margin of 12.1% and capital expenditures of up to $2.5 billion.[1]
By the numbers:
- Total sales: $86.0 billion (raised from $84.5–$85.5 billion).[1]
- Comparable sales: flat versus last year.[1] [2]
- Adjusted operating margin: 12.1%.[1]
- Adjusted EPS: approximately $12.25.[1] [2]
- Capex: up to $2.5 billion.[1]
The upshot: The raised sales guide suggests improving volume and mix, supported by digital and core projects. But flat comps and a cautious consumer backdrop keep expectations grounded.[1] [2]
Official Reporting and Disclosure
Lowe’s furnished a Form 8-K on November 19, 2025, releasing Q3 results and related materials as Exhibits 99.1 and 99.2. This filing provides the authoritative record of the numbers and guidance.[0]
What’s next: Watch holiday-adjacent seasonal categories, pro demand, and fulfillment speed as online volumes rise. Additionally, track whether November’s early strength broadens through December. Finally, monitor execution on capex plans tied to omnichannel and productivity.[1] [2]
