Lowe's Companies, Inc. (LOW - Free Report) , the home improvement retailer, came out with first-quarter fiscal 2018 results, wherein earnings of $1.19 a share missed the Zacks Consensus Estimate of $1.22, but increased 15.5% year over year.
Management now envisions fiscal 2018 earnings in the band of $5.40-$5.50 per share. The current Zacks Consensus Estimate for the fiscal is $5.46, well within the guided range.
Revenues: Lowe's generated net sales of $17,360 million that increased 3% year over year but fell short of the Zacks Consensus Estimate of $17,457 million. Comparable sales for the quarter inched up 0.6%.
Management now projects total sales growth of 5% in fiscal 2018. Comparable sales are continued to be expected to increase roughly 3.5% for the full year.
Key Events: During the quarter, the company bought back shares worth $750 million under its share buyback program and paid $340 million in dividends.
Zacks Rank: Currently, Lowe's carries a Zacks Rank #3 (Hold) which is subject to change following the earnings announcement.
Check back later for our full write up on Lowe's earnings report!
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Lowe's Companies, Inc. (LOW - Free Report) , the home improvement retailer, came out with first-quarter fiscal 2018 results, wherein earnings of $1.19 a share missed the Zacks Consensus Estimate of $1.22, but increased 15.5% year over year.
Management now envisions fiscal 2018 earnings in the band of $5.40-$5.50 per share. The current Zacks Consensus Estimate for the fiscal is $5.46, well within the guided range.
Revenues: Lowe's generated net sales of $17,360 million that increased 3% year over year but fell short of the Zacks Consensus Estimate of $17,457 million. Comparable sales for the quarter inched up 0.6%.
Management now projects total sales growth of 5% in fiscal 2018. Comparable sales are continued to be expected to increase roughly 3.5% for the full year.
Key Events: During the quarter, the company bought back shares worth $750 million under its share buyback program and paid $340 million in dividends.
Zacks Rank: Currently, Lowe's carries a Zacks Rank #3 (Hold) which is subject to change following the earnings announcement.
Check back later for our full write up on Lowe's earnings report!
The Hottest Tech Mega-Trend of All
Last year, it generated $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.
See Zacks' 3 Best Stocks to Play This Trend >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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