Lowe’s Companies Earnings: Here’s Why Investors are Buying Shares Now
Lowe’s Companies Inc. (NYSE:LOW) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 4.51%.
Lowe’s Companies Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 35.38% to $0.88 in the quarter versus EPS of $0.65 in the year-earlier quarter.
Revenue: Rose 10.26% to $15.71 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Lowe’s Companies Inc. reported adjusted EPS income of $0.88 per share. By that measure, the company beat the mean analyst estimate of $0.79. It beat the average revenue estimate of $15.06 billion.
Quoting Management: “Home improvement demand was strong during the quarter, and we capitalized on it with improving execution. I’d like to thank our employees for their hard work and continued dedication to serving customers,” commented Robert A. Niblock, Lowe’s chairman, president and CEO. “We drove a healthy balance of ticket and transaction growth, and delivered solid performance across all product categories.”
Key Stats (on next page)…