Lowe’s staff stroll via the shop through the grand opening of the Lowe’s retailer in San Francisco, California.
Lowe’s Third-quarter earnings on Wednesday topped analysts’ expectations, with income up year-over-year.
Here is what Lowe’s reported on Wednesday in comparison with analysts’ expectations, in line with a Refinitiv survey of analysts:
- EPS: $3.27 vs. $3.10
- Income: $23.48 billion $23.13 billion
In August, Lowe’s stated it anticipated full-year whole and comparable gross sales to be close to the underside of its outlook vary, projecting gross sales of $97 billion to $99 billion, with comparable gross sales down 1% to 1%. Working earnings and earnings are anticipated to be close to the higher finish of its earlier forecast, the corporate stated.
Lowe’s earnings report a day later The Dwelling DepotEarnings for the third quarter beat analysts’ expectations. On Tuesday, Dwelling Depot stated its skilled and do-it-yourself gross sales had been optimistic for the interval, including that professionals stated their order backlog remained robust.
Dwelling Depot executives famous Tuesday that the corporate is “navigating a singular setting” and can’t predict how rising prices and different pressures will have an effect on its prospects. The corporate stated that whereas its consumer transactions fell, fares rose attributable to inflation.
It is a creating story. Examine for updates.