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Lowe's Reports Q2 Earnings Beat

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Lowe's Reports Q2 Earnings Beat

Lowe's Companies, Inc. (NYSE: LOW) reported second-quarter earnings of $2.15 per share, which beat the analyst consensus estimate of $2.01.

The company reported sales for the second-quarter increased 0.5% to $21.0 billion from $20.9 billion in the second-quarter of 2018, and comparable sales increased 2.3%.
Lowe's reported net earnings of $1.7 billion and diluted earnings per share of $2.14 for the quarter ended Aug. 2, 2019, compared to net earnings of $1.5 billion and diluted earnings per share of $1.86 in the second-quarter of 2018.

The company sees fiscal year 2019 guidance adjusted EPS $5.45-$5.65 versus the $5.57 estimate.

"We capitalized on spring demand, strong holiday event execution and growth in Paint and our Pro business to deliver strong second-quarter results. Despite lumber deflation and difficult weather, we are pleased that we delivered positive comparable sales in all 15 geographic regions of the U.S. This is a reflection of a solid macroeconomic backdrop and continued momentum executing our retail fundamentals framework," said Marvin Ellison, Lowe's CEO in a statement.

Lowe's shares were trading up 11.88% at $109.50 in Wednesday’s pre-market session. The stock has a 52-week high of $118.23 and a 52-week low of $84.75.

Related Links:

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This Analyst Prefers Lowe's Over Home Depot Ahead Of Earnings

Posted-In: Earnings News Best of Benzinga

 

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