Lowe's Cos. (NYSE: LOW) reported Q4 EPS of $1.33, $0.12 better than the analyst estimate of $1.21. Revenue for the quarter came in at $20.5 billion versus the consensus estimate of $19.48 billion.

"Strong execution enabled us to meet broad-based demand driven by the continued consumer focus on the home, with growth over 16% in all merchandising departments, over 19% across all U.S. regions and 121% on Lowes.com. I would like to thank our front-line associates for their continued dedication to serving our customers and communities and supporting safety in our stores. I am pleased with our progress in 2020 as we generated nearly $90 billion in sales, with annual sales growth of over $17 billion, while also enhancing our operating efficiency. Looking ahead to 2021, we expect to grow market share and drive further operating margin expansion," commented Marvin R. Ellison, Lowe's president and CEO.

Lowe's Business Outlook

The Company delivered very strong financial results in the fourth quarter of 2020, with continued sales momentum in February. The Company is reiterating the perspectives provided at the December 9, 2020 Investor Update, during which the Company presented its planning expectations for three potential scenarios for 2021 which assume modest mix-adjusted market contraction. In each of these scenarios, the Company expects to drive further market share gains and operating margin improvement. Additionally, consistent with expectations provided at the Investor Update, the Company is planning for $9 billion in share repurchases and $2 billion in capital expenditures in 2021.

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