Lowe's Companies, Inc. reported its third-quarter earnings for 2024, revealing a revenue of $20.17 billion, which is a 1.47% decrease year-over-year but surpasses analyst expectations by $230 million. The company's earnings per share (EPS) stood at $2.89, down 5.56% year-over-year, beating estimates by $0.07. Despite these positive earnings results, Lowe's experienced a decline in same-store sales, leading to a nearly 4% drop in its stock price. The company also raised its fiscal year 2024 guidance, although it anticipates that sales will still fall compared to 2023 levels. Lowe's CEO highlighted the challenges consumers face due to inflation and high mortgage rates, which are affecting housing turnover, currently at 30-year lows. In terms of market positioning, Lowe's accounted for 20.7% of visits to home improvement and furnishing chains nationwide during the quarter.