Lowe's Cos Inc (LOW) released its second quarter results on Sunday, August 22, 2021. The company reported net earnings of $4.25 per share for the second quarter ending July 31, 2021. Earnings for this past quarter were up 14 percent compared to the same period a year ago.
Lowe's Companies, Inc. was founded in 1921 and is based in Mooresville, North Carolina. Lowe's Companies, Inc., together with its subsidiaries, operates as a home improvement retailer in the United States and internationally. The company offers a line of products for construction, maintenance, repair, remodeling, and decorating.
Lowe's revenue increased 18 percent over the past trailing twelve-month period versus the previous twelve-month period. Gross margins decreased to 33.78% for the second quarter compared to the same period in the previous year, and operating margins decreased to 15.27% over the same period. Net earnings for past trailing twelve months were $6992.0 million, up 23% from the prior year.
Moving on to the balance sheet, Lowe's cash levels dropped 58% for the second quarter over the same period last year. Overall liquidity of the balance sheet, as measured by the current ratio, decreased 10.73% this past year. The current ratio for Lowe's Cos now stands at 1.16. The company decreased shares outstanding by 7.54%.
Shares of LOW are currently trading around $208.21. In terms of valuation, the stock is trading at a trailing twelve-month price to earnings ratio of 21.47 and price to book ratio of nan.