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Lowe's (LOW) to Report Q3 Earnings: What's in the Cards?
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Lowe's Companies, Inc. (LOW - Free Report) is likely to register a decline in the top and the bottom line from the year-ago quarter’s respective readings when it reports third-quarter fiscal 2023 earnings on Nov 21, before the opening bell. The Zacks Consensus Estimate for quarterly revenues is pegged at $20,974 million, indicating a 10.7% decline from the year-ago quarter’s reported figure.
The Zacks Consensus Estimate for earnings has moved down 5 cents to $3.05 a share in the past 30 days, suggesting a 6.7% dip from the year-ago fiscal quarter’s tally.
In the last reported quarter, LOW delivered an earnings surprise of 1.6%. We note that this home-improvement retailer has a trailing four-quarter earnings surprise of 3.8%, on average.
Key Factors to Note
A tough operating backdrop, including inflationary pressures and foreign currency headwinds, might have hurt Lowe's quarterly performance. Stronger-than-anticipated pullback in home-improvement spending, lumber deflation and weaker-than-expected DIY discretionary sales might have acted as deterrents.
These headwinds, coupled with any deleverage in selling, general & administrative costs, and other expenses, might have hurt the company’s performance in the fiscal third quarter. Lowe’s has been investing in wage increases and bonuses.
On its last earnings call, management highlighted that it expects to witness the toughest comparison of the year as it saw plus 3% comparable sales in the U.S. last year. We expect a comparable sales decline of 4% in the fiscal third quarter.
Lowe’s focus on enhancing the omnichannel retailing capabilities in store operations, website and supply chain to resonate well with customers’ demand appears encouraging. Its pro business and Total Home strategy have been contributing to the company’s performance. All these strengths might have provided some cushion to LOW’s performance in the quarter to be reported.
What the Zacks Model Unveils
Our proven model doesn’t conclusively predict an earnings beat for Lowe's this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here. You can uncover the best stocks before they’re reported with our Earnings ESP Filter.
The Zacks Consensus Estimate for third-quarter fiscal 2023 earnings per share (EPS) is pegged at 51 cents, flat year over year.
Build-A-Bear Workshop’s top line is expected to increase year over year. The consensus estimate for quarterly revenues is pegged at $107.6 million, which indicates an increase of 3% from the figure reported in the prior-year quarter. BBW has a trailing four-quarter earnings surprise of 21.6% on average.
Costco (COST - Free Report) currently has an Earnings ESP of +4.26% and a Zacks Rank of 2. COST is likely to register a bottom-line increase when it reports first-quarter fiscal 2024 numbers. The Zacks Consensus Estimate for quarterly EPS of $3.43 suggests an increase of 10.7% from the year-ago fiscal quarter’s reported number.
Costco’s top line is expected to improve from the prior-year fiscal quarter’s reported number. The consensus estimate for quarterly revenues is pegged at $57.7 billion, suggesting growth of 6% from the prior-year fiscal quarter’s reported figure. COST has a trailing four-quarter earnings surprise of 2.1% on average.
NIKE (NKE - Free Report) currently has an Earnings ESP of +0.45% and a Zacks Rank of 3. The company is likely to register top- and bottom-line growth when it reports second-quarter fiscal 2024 numbers. The Zacks Consensus Estimate for NKE’s quarterly EPS of 85 cents remains flat year over year.
NIKE has a trailing four-quarter earnings surprise of 27.1% on average. The consensus estimate for NKE’s quarterly revenues is pegged at $13.4 billion, indicating a rise of 0.7% from the figure reported in the prior-year quarter.
Image: Bigstock
Lowe's (LOW) to Report Q3 Earnings: What's in the Cards?
Lowe's Companies, Inc. (LOW - Free Report) is likely to register a decline in the top and the bottom line from the year-ago quarter’s respective readings when it reports third-quarter fiscal 2023 earnings on Nov 21, before the opening bell. The Zacks Consensus Estimate for quarterly revenues is pegged at $20,974 million, indicating a 10.7% decline from the year-ago quarter’s reported figure.
The Zacks Consensus Estimate for earnings has moved down 5 cents to $3.05 a share in the past 30 days, suggesting a 6.7% dip from the year-ago fiscal quarter’s tally.
In the last reported quarter, LOW delivered an earnings surprise of 1.6%. We note that this home-improvement retailer has a trailing four-quarter earnings surprise of 3.8%, on average.
Key Factors to Note
A tough operating backdrop, including inflationary pressures and foreign currency headwinds, might have hurt Lowe's quarterly performance. Stronger-than-anticipated pullback in home-improvement spending, lumber deflation and weaker-than-expected DIY discretionary sales might have acted as deterrents.
These headwinds, coupled with any deleverage in selling, general & administrative costs, and other expenses, might have hurt the company’s performance in the fiscal third quarter. Lowe’s has been investing in wage increases and bonuses.
On its last earnings call, management highlighted that it expects to witness the toughest comparison of the year as it saw plus 3% comparable sales in the U.S. last year. We expect a comparable sales decline of 4% in the fiscal third quarter.
Lowe’s focus on enhancing the omnichannel retailing capabilities in store operations, website and supply chain to resonate well with customers’ demand appears encouraging. Its pro business and Total Home strategy have been contributing to the company’s performance. All these strengths might have provided some cushion to LOW’s performance in the quarter to be reported.
What the Zacks Model Unveils
Our proven model doesn’t conclusively predict an earnings beat for Lowe's this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here. You can uncover the best stocks before they’re reported with our Earnings ESP Filter.
Lowe's Companies, Inc. Price and EPS Surprise
Lowe's Companies, Inc. price-eps-surprise | Lowe's Companies, Inc. Quote
Lowe's has an Earnings ESP of -0.32% and a Zacks Rank of 4 (Sell), making surprise prediction difficult.
Stocks With a Favorable Combination
Here are a few companies, which according to our model, have the right combination to beat on earnings this reporting cycle:
Build-A-Bear Workshop (BBW - Free Report) currently has an Earnings ESP of +0.66% and a Zacks Rank of 2. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for third-quarter fiscal 2023 earnings per share (EPS) is pegged at 51 cents, flat year over year.
Build-A-Bear Workshop’s top line is expected to increase year over year. The consensus estimate for quarterly revenues is pegged at $107.6 million, which indicates an increase of 3% from the figure reported in the prior-year quarter. BBW has a trailing four-quarter earnings surprise of 21.6% on average.
Costco (COST - Free Report) currently has an Earnings ESP of +4.26% and a Zacks Rank of 2. COST is likely to register a bottom-line increase when it reports first-quarter fiscal 2024 numbers. The Zacks Consensus Estimate for quarterly EPS of $3.43 suggests an increase of 10.7% from the year-ago fiscal quarter’s reported number.
Costco’s top line is expected to improve from the prior-year fiscal quarter’s reported number. The consensus estimate for quarterly revenues is pegged at $57.7 billion, suggesting growth of 6% from the prior-year fiscal quarter’s reported figure. COST has a trailing four-quarter earnings surprise of 2.1% on average.
NIKE (NKE - Free Report) currently has an Earnings ESP of +0.45% and a Zacks Rank of 3. The company is likely to register top- and bottom-line growth when it reports second-quarter fiscal 2024 numbers. The Zacks Consensus Estimate for NKE’s quarterly EPS of 85 cents remains flat year over year.
NIKE has a trailing four-quarter earnings surprise of 27.1% on average. The consensus estimate for NKE’s quarterly revenues is pegged at $13.4 billion, indicating a rise of 0.7% from the figure reported in the prior-year quarter.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.