Lowe’s misses Street 2Q forecasts

MOORESVILLE, N.C. (AP) — Lowe’s Cos. (LOW) on Wednesday reported fiscal second-quarter earnings of $1.17 billion.

The Mooresville, North Carolina-based company said it had profit of $1.31 per share. Earnings, adjusted for non-recurring costs, came to $1.37 per share.

The results missed Wall Street expectations. The average estimate of 13 analysts surveyed by Zacks Investment Research was for earnings of $1.42 per share.

The home improvement retailer posted revenue of $18.26 billion in the period, also falling short of Street forecasts. Nine analysts surveyed by Zacks expected $18.72 billion.

Lowe’s expects full-year earnings to be $4.06 per share.

Lowe’s shares have climbed 7 percent since the beginning of the year, while the Standard & Poor’s 500 index has climbed nearly 7 percent. The stock has climbed 12 percent in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on LOW at http://www.zacks.com/ap/LOW


Keywords: Lowe’s, Earnings Report, Priority Earnings

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