M&A - LOWES COMPANIES INC

Form Type: 10-Q

Filing Date: 2025-05-29

Corporate Action: Acquisition

Type: Update

Accession Number: 000006066725000104

Filing Summary: Lowe's Companies, Inc. filed a Form 10-Q for the quarter ending May 2, 2025, reporting a net sales figure of $20.93 billion, a decrease from $21.36 billion in the prior year. The company reported net earnings of $1.641 billion, down from $1.755 billion a year earlier. The document outlines the acquisition of Artisan Design Group (ADG) for $1.325 billion, which is set to broaden Lowe's Pro customer offering into a new distribution channel. This transaction is expected to close in the second quarter of fiscal 2025. Significant financial metrics include cost of sales at $13.944 billion, resulting in a gross margin of $6.986 billion. Updating key financial data reflects a strong cash position with $3.054 billion in cash and cash equivalents. Other notable points include an increase in operating expenses and an upcoming cash dividend of $1.15 per share, while the company also shows continued share repurchase activities. The balance sheet remains robust with total assets reported at $45.372 billion, offset by total liabilities and shareholders' deficit of $58.626 billion.