The home improvement company lost $824 million, or $1.03 per share. That includes $1.6 billion in charges, most from a $952 million goodwill impairment charge. Stripping out the charges, earnings were 80 cents per share, a penny better than analysts polled by FactSet had expected.
A year ago the Mooresville, North Carolina, company earned $554 million, or 67 cents per share.
Revenue rose to $15.65 billion from $15.5 billion, short of Wall Street expectations.
Sales at stores open at least a year increased 1.7 percent, and 2.4 percent in the U.S.
Lowe’s Cos. on Wednesday projected earnings between $6 and $6.10 for this year. Analysts had been expecting $6.04 per share.