Lowe's Companies, Inc. (NYSE: LOW) Climbs after Quarterly Results
November 16, 2009 8:32 AM
Lowe's Companies, Inc. (NYSE: LOW) today reported that its third-quarter net earnings fell 29.5% to $344 million and sales declined 3% to $11.4 billion due to global economic recession and comparable sales store declined 7.5%. In the third quarter, Lowe’s opened 12 stores and closed one store.
Diluted EPS of LOW declined 30.3% to $0.23 as compared to $0.33 same quarter last year.
Analysts on an average expected LOW to earn $0.24 per share in 3Q2009 while $0.10 a share for 4Q2009 and $1.20 per share for fiscal 2009.
Lowe's Companies also provided outlook for the 4Q2009 and fiscal 2009. LOW expects profit to be in between $0.09s to $0.13 a share and $1.16 to $1.20 a share for the year.
Yesterday shares of Lowe's Companies, Inc. (NYSE: LOW) were closed at $21.85 after moving up by 1.77%. In the pre-market session, LOW is up 0.92% at $22.05. The 52 week trading range for LOW is $13.00 - $24.09. In the last six months, LOW gained over 18%.
