07:11 AM EST, 12/11/2024 (MT Newswires) -- Lowe's (LOW) said Wednesday that it seeks to open 10 to 15 stores annually over the next several years in the US and launch 150 more outlets in rural communities.

The home improvement company also said it plans to provide the next set of perpetual productivity improvement initiatives to generate annual cost savings of roughly $1 billion.

Additionally, Lowe's said it continues to expect 2024 adjusted earnings of $11.80 to $11.90 per diluted share on total sales of $83 billion to $83.50 billion. Analysts polled by FactSet expect adjusted EPS of $11.89 on sales of $83.31 billion.

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