Lowe's Reiterates FY21 Sales Outlook - Quick Facts

(RTTNews) - Ahead of its 2022 financial outlook webcast later on Wednesday, home improvement company Lowe's Companies, Inc. (LOW) reiterated its total sales outlook for the full-year 2021 and initiated guidance for the full-year 2022.

For fiscal 2021, the company continues to projects revenue of approximately $95 billion, representing approximately 33% comparable sales growth on a two-year basis. The Street is looking for revenues of $95.65 billion for the year.

Looking ahead to fiscal 2022, the company now expects earnings in a range of $12.25 to $13.00 per share on total sales between $94 billion and $97 billion, including the 53rd week, which is expected to increase total sales by approximately $1.0 billion to $1.5 billion. Comparable sales expected to range from a decline of 3% to flat.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $12.94 per share on revenues of $97.66 billion for the year. Analysts' estimates typically exclude special items.

Further, the Board of Directors has authorized a new $13 billion common stock repurchase program. This new repurchase program has no expiration date and adds to the previous program's balance, which was $7.3 billion as of December 14, 2021. The company now has total share repurchase authorization of approximately $20 billion.

At today's webcast presentations, the company will include its priorities for 2022 with a focus on its Total Home Strategy aimed at taking market share, driving productivity, and providing an integrated omni-channel shopping experience.