Lowe's Companies, Inc. (NYSE:LOW) Q2 2024 Earnings Conference Call August 20, 2024 9:00 AM ET

Company Participants

Kate Pearlman - Vice President, Investor Relations & Treasurer
Marvin Ellison - Chairman & Chief Executive Officer
Bill Boltz - Executive Vice President, Merchandising
Joe McFarland - Executive Vice President, Stores
Brandon Sink - Executive Vice President & Chief Financial Officer

Conference Call Participants

Simeon Gutman - Morgan Stanley
Steven Zaccone - Citi
Christopher Horvers - JPMorgan
Scot Ciccarelli - Truist Securities
Kate McShane - Goldman Sachs
Robby Ohmes - Bank of America
David Bellinger - Mizuho Securities
Zach Fadem - Wells Fargo
Brian Nagel - Oppenheimer

Operator

Good morning, everyone, and welcome to Lowe's Companies Second Quarter 2024 Earnings Conference Call. My name is Rob, and I'll be your operator for today's call. As a reminder, this conference is being recorded.

I'll now turn the call over to Kate Pearlman, Vice President of Investor Relations and Treasurer.

Kate Pearlman

Thank you, and good morning.

Here with me today are Marvin Ellison, Chairman and Chief Executive Officer; Bill Boltz, our Executive Vice President, Merchandising; Joe McFarland, our Executive Vice President, Stores; and Brandon Sink, our Executive Vice President and Chief Financial Officer.

Here with me today are Marvin Ellison, Chairman and Chief Executive Officer Bill Boltz, our Executive Vice President, Merchandising Joe McFarland, our Executive Vice President, Stores and Brandon Sink, our Executive Vice President and Chief Financial Officer.

I would like to remind you that our notice regarding forward-looking statements is included in our press release this morning, which can be found on Lowe's Investor Relations website. During this call, we will be making comments that are forward-looking, including our expectations for fiscal 2024. Actual results may differ materially from those expressed or implied as a result of various risks, uncertainties and important factors, including those discussed in the Risk Factors, MD&A and other sections of our annual report on Form 10-K and our other SEC filings.

Additionally, we'll be discussing certain non-GAAP financial measures. A reconciliation of these items to US GAAP can be found on the quarterly earnings section of our Investor Relations website.

Now, I'll turn the call over to Marvin.

Marvin Ellison

Thank you, Kate, and good morning, everyone, and thank you for joining us.

Second quarter sales were $23.6 billion, with comparable sales down 5.1% from the same period last year. While we're pleased that we delivered positive comps in Pro and online sales, we continue to manage through softness in DIY demand.