MAAT INDEX

CLAIM #37972 · Lowe's Companies Inc (LOW) · 2022Q3 earnings call · Nov 16, 2022 · due Jan 31, 2023

the Pro comp momentum is expected to continue and the DIY trends that Bill mentioned are expected to continue through Q4.

Brandon Sink · CFO

PENDING
graded after results covering Jan 31, 2023 are reported

In context

specifically in the interior DIY-related categories. The midpoint of our full year guide is flat to down 1%, which implies a slightly positive comp for Q4. And if you recall back in August, we were guiding actually to the bottom end of that range of flat to down 1%. I will cite that the commodity volatility and the impact Q3 to Q4. With lumber where it is, we've actually seen a benefit of 80 basis points to comps in Q3. If the pricing runs out into Q4, we're expecting that to actually flip to a 90-basis point drag. So that's about 170 basis point swing. Again, that's taken where we are from a benchmark perspective of below about $500 and running that out and comparing that to where lumber prices inflated round 2 of last year. So all in, excluding lumber, and the differences I just cited, the Pro comp momentum is expected to continue and the DIY trends that Bill mentioned are expected to continue through Q4. Brian Nagel: That's very helpful. I appreciate the color there. Then my follow-up question, in separate topic. there is with regard to supply chain. So Marvin, you keep talk -- you highlighted that there's a lot of success that you've had in improving the low supply chain internally. By most measures, now the external environment for supply chain is getting better with shipping costs and such. So I guess the question, are you seeing that? And then recognizing you haven't given guidance yet for 2023, but to the extent these external supply chain issues continue to correct. Could that be a tailwind of some sort as we hit over the next several quarters? Marvin Ellison: Yes. Look, it's a great question, Brian. And without getting in front of what we're going to discuss next month, I would s

Verify independently

SEC filings for LOW · Claim quote is verbatim from the 2022Q3 earnings call.