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LOWE'S® November 17 , 2021 LOWE'S REPORTS THIRD QUARTER 2021 SALES AND EARNINGS RESULTS - Consolidated Comparable Sales Increased 2.2 % ; U.S. Comparable Sales Increased 2.6 % - Represents U.S. Comparable Sales Increase on a Two - Year Basis of 33.7 % Third Quarter Diluted EPS of $ 2.73 Raises Fiscal 2021 Financial Outlook MOORESVILLE , N.C. - Lowe's Companies , Inc. ( NYSE : LOW ) today reported net earnings of $ 1.9 billion and diluted earnings per share ( EPS ) of $ 2.73 for the quarter ended October 29 , 2021 compared to net earnings of $ 692 million and diluted EPS of $ 0.91 in the third quarter of 2020. Excluding charges in the prior - year period related to the extinguishment of debt , third quarter diluted EPS of $ 2.73 increased 38 % from adjusted diluted EPS of $ 1.98 in the third quarter of 2020¹ . Total sales for the third quarter were $ 22.9 billion compared to $ 22.3 billion in the third quarter of 2020 , and comparable sales increased 2.2 % . Comparable sales for the U.S. home improvement business increased 2.6 % for the third quarter . For the seventh consecutive quarter , 100 % of Lowe's stores earned a Winning Together profit - sharing bonus , resulting in an expected total payout of $ 138 million to front - line hourly associates . This payment is $ 70 million above the target level . " Our momentum continued this quarter , with U.S. sales comps up nearly 34 % on a two - year basis , as our Total Home strategy is resonating with the Pro and DIY customer alike . In the quarter , we drove over 16 % growth in Pro and 25 % on Lowes.com . We also delivered operating margin expansion by driving productivity through disciplined operational execution and cost management , " commented Marvin R. Ellison , Lowe's chairman , president and CEO . " I would like to thank our front - line associates for their ongoing dedication to outstanding customer service . Looking forward , I remain confident in our ability to drive further market share gains , operating margin expansion , and long - term value for our shareholders . " Capital Allocation With a disciplined focus on its robust capital allocation program , the Company continues to create sustainable value for its shareholders . During the quarter , the Company repurchased 13.7 million shares for $ 2.9 billion and paid $ 563 million in dividends . Given its better - than - expected performance , the Company now plans to repurchase approximately $ 3 billion in shares in the fourth quarter , bringing the expected total share repurchases for the year to approximately $ 12 billion . This incremental share repurchase is consistent with the Company's long - term commitment to returning excess capital to shareholders . As of October 29 , 2021 , Lowe's operated 1,973 home improvement and hardware stores in the United States and Canada representing 208 million square feet of retail selling space , and it serviced approximately 230 dealer - owned stores . 1 Adjusted diluted earnings per share is a non - GAAP financial measure . Refer to the " Non - GAAP Financial Measures Reconciliation " section of this release for additional information as well as reconciliations between the Company's GAAP and non - GAAP financial results .