AP NEWS
Related topics

Lowe’s: Fiscal 1Q Earnings Snapshot

May 22, 2019

MOORESVILLE, N.C. (AP) — Lowe’s Cos. (LOW) on Wednesday reported fiscal first-quarter earnings of $1.05 billion.

On a per-share basis, the Mooresville, North Carolina-based company said it had net income of $1.31. Earnings, adjusted for pretax gains, were $1.22 per share.

The results fell short of Wall Street expectations. The average estimate of 15 analysts surveyed by Zacks Investment Research was for earnings of $1.33 per share.

The home improvement retailer posted revenue of $17.74 billion in the period, topping Street forecasts. Eleven analysts surveyed by Zacks expected $17.63 billion.

Lowe’s expects full-year earnings in the range of $5.45 to $5.65 per share.

Lowe’s shares have increased 20% since the beginning of the year, while the Standard & Poor’s 500 index has risen 14%. The stock has increased 27% 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 https://www.zacks.com/ap/LOW

All contents © copyright 2019 The Associated Press.All rights reserved.