Lowe’s expects to return to 2.75x leverage ratio within two years

By Devika Patel

Knoxville, Tenn., Dec. 15 – Lowe’s Cos., Inc. reported that it expects to return to its 2.75x target adjusted debt to EBITDAR leverage ratio within two years and management is committed to maintaining the company’s investment-grade credit rating.

“We remain committed to maintaining a healthy balance sheet and a solid investment-grade rating, with a target leverage ratio of 2.75x,” executive vice president and chief financial officer David M. Denton said on the company’s 2022 financial outlook webcast on Wednesday.

“Our strong balance sheet is critical to creating the flexibility we need to invest in our business and return capital to shareholders,” he said.

The home improvement company is based in Mooresville, N.C.

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