Lowe’s Companies Earnings: Here’s Why Shares are Up 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 1%.
Lowe’s Companies Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 10.34% to $0.26 in the quarter versus EPS of $0.29 in the year-earlier quarter.
Revenue: Decreased 5.01% to $11.05 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Lowe’s Companies Inc. reported adjusted EPS income of $0.26 per share. By that measure, the company beat the mean analyst estimate of $0.23. It beat the average revenue estimate of $10.84 billion.
Quoting Management: “We delivered solid results in the fourth quarter,” commented Robert A. Niblock, Lowe’s chairman, president and CEO. “Our results are a testament to the team’s success in driving more balanced performance across the quarter, our response to the demand created by recovery efforts in the wake of superstorm Sandy, and the momentum we’re creating with our initiatives.”
Key Stats (on next page)…