Lowe's Companies (NYSE:LOW) reported quarterly earnings of 94 cents per share on Wednesday, which beat the analyst consensus estimate of 91 cents by 3.3%. This is a 17.5% increase over earnings of 80 cents per share from the same period last year.
The company reported quarterly sales of $16.03 billion, which missed the analyst consensus estimate of $16.17 billion by 0.87%. This is a 2.45% increase over sales of $15.647 billion the same period last year.
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"In the fourth-quarter, we delivered profitability that exceeded our expectations given strong expense management, improving gross margin and enhanced process execution,” said Marvin Ellison, Lowe's CEO. “Our sales growth was driven almost entirely by our U.S. brick and mortar stores, supported by our investments in technology, store environment and the Pro business. We have a detailed road map in place to modernize our e-commerce platform and accelerate Lowes.com sales."
Lowe's shares were trading down 0.44% at $118 in Wednesday’s pre-market session. The stock has a 52-week high of $126.73 and a 52-week low of $91.60.
Photo by Coolcaesar/Wikimedia.
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