NORTH WILKESBORO (dpa-AFX) - (Adds Outlook)
Lowe's Cos. (LOW) released earnings for second quarter that beat the Street estimates.
The company's bottom line totaled $2.99 billion, or $4.67 per share. This compares with $3.02 billion, or $4.25 per share, in last year's second quarter.
Analysts on average had expected the company to earn $4.59 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
The company's revenue for the quarter fell 0.3% to $27.48 billion from $27.57 billion last year.
Outlook:
Looking forward, the company has updated it full-year guidance. For the fiscal 2022, the Low's now expects total and comparable sales toward the bottom end of its earlier outlook range, with operating income and EPS toward the top end. Earlier, company had projected its EPS to be in the range of $13.10 to $13.60, on sales of $97 billion to $99 billion.
For the full-year, analysts, on average, expect the firm to report EPS of $13.39, on revenue of $97.54 billion.
Lowe's Cos. earnings at a glance (GAAP) :
-Earnings (Q2): $2.99 Bln. vs. $3.02 Bln. last year. -EPS (Q2): $4.67 vs. $4.25 last year. -Analyst Estimates: $4.59 -Revenue (Q2): $27.48 Bln vs. $27.57 Bln last year.
-Guidance: Full year EPS guidance: $13.10 - $13.60 Full year revenue guidance: $97 - $99 Bln
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