Fast Money Blog- 3/3/23

The week on Wall Street saw more earnings releases.

On Wednesday, March 1st, Lowe’s Companies, Inc. (LOW) released their Q4 2022 earning results. Lowe’s top-line revenue in the third quarter was $22.4 billion, up from $21.3 billion year-over-year. 

The company continued to see an uptick in their Total Home Strategy, with quarterly Pro sales up 10% and Lowes.com sales up 5%.

In the fourth quarter, the company also paid $643 million in dividends in the fourth quarter and $2.4 billion in dividends for the year.

For fiscal year 2022, the company reported revenue of $97.1 billion, up .8% from the prior year.

Costco Wholesale Corporation (COST) released their Q2 2023 earnings on Thursday, March 2nd. Total revenue for the quarter was $55.2 billion, up 6.5%. Costco's quarterly revenue from memberships, rose to $1.03 billion from $967 million a year earlier.

However, Wall Street initially responded negatively to the fact that online sales fell 8.7% from last year's holiday quarter. 

Like other major U.S. retailers amidst this current economy, Costco saw an increase in sales in fresh and frozen food, and small items such as toiletries, while seeing a drop in non-food items such as apparel, jewelry and electronics. 

Both Lowe’s and Costco are two of my favorite stocks, as they are always consistent and pay a dividend.

I expect the next 7 trading days to be mixed, with up and down days in both the Dow and S&P 500.

In this market I ask that you resist the temptation to get greedy, and instead stay consistent!

Tyrone Jackson, The Wealthy Investor