Fast Money Blog- 3/1/24

This was another great week on Wall Street.

On Tuesday, February 27th, Lowe’s Companies, Inc. (LOW) released its Q4 2023 Earnings Report. Like Home Depot, Lowe’s has seen its customers return to more normal spending patterns post-Covid.  

Although their earnings came in higher than Wall Street estimated, total sales for the quarter were $18.6 billion, down about 17% year-over-year, and comparable sales for the quarter decreased 6.2%.

On a more positive note, for the fiscal year that ended on February 2nd, 2024, Lowe’s net earnings were up 20% from the year prior. For Q4, the company also repurchased approximately 1.9 million shares for $404 million and paid out $633 million in dividends.

Looking ahead, Lowe’s announced they were focused on rolling out their new free loyalty program to boost traffic and revenue in stores and online. This program will give members special offers, including discounts, gifts and free shipping. 

Here is what you need to keep in mind about Lowe’s: their pre-Covid revenue numbers have normalized and they have created several initiatives to boost top line revenue over the next few years. 

Remember investing is all about future revenue that creates a demand for the stock. That said, I highly recommend Lowe’s as a long-term hold. 

On another note, I just wanted to take a moment and congratulate you for not succumbing to greed, but staying in Wealthy Investor discipline. It’s actions like taking your covered call income and investing it in long-term holds like Costco Wholesale Corporation (COST) (which has seen its share price go from $694 to $749 over the last 30 days), which pave the way to creating a seven-figure brokerage account. 

I’d also like to congratulate those of you who started building a position in Dow component Walmart, Inc. (WMT) post split. While many retails stocks like Macy’s have seen a decline in foot traffic and sales, Walmart has seen the exact opposite. The company has also seen substantially revenue growth in their e-commerce division. 

Create Your Road To Financial Freedom

Being a disciplined trader and investor with an eye towards a multi-million dollar trading account is what the Wealthy Investor program is all about. 

Once again I applaud you for your discipline and not succumbing to greed.  Stay positive and stay open!

Your favorite wealth coach, 

Tyrone Jackson

The Wealthy Investor