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Lowe's (LOW) Misses on Q2 Earnings & Sales, Stock Declines
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Lowe's Companies Inc. (LOW - Free Report) , one of the largest home improvement retailers, came out with second-quarter fiscal 2017 results, wherein adjusted earnings of $1.57 per share missed the Zacks Consensus Estimate of $1.62 but jumped 14.6% year over year.
Management expects earnings in the range of $4.20 to $4.30 per share for fiscal 2017.
Earnings Estimate Revision: The Zacks Consensus Estimate for fiscal 2017 has been portraying a slight downtrend in the last 30 days. In the trailing four quarters (excluding the quarter under review), the company has underperformed the Zacks Consensus Estimate by an average of 1.7%.
Revenues: Lowe's generated total revenue of $19,495 million that increased 6.8% year over year but lagged the Zacks Consensus Estimate of $19,524 million. Comparable sales jumped 4.5% during the quarter.
Management expects total sales growth of nearly 5% and comparable sales to increase 3.5% for fiscal 2017.
Lowe's Companies, Inc. Price, Consensus and EPS Surprise
Stock Movement: Lowe’s shares are down nearly 6% during pre-market trading hours following the earnings release.
Check back later for our full write up on Lowe’s earnings report!
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Lowe's (LOW) Misses on Q2 Earnings & Sales, Stock Declines
Lowe's Companies Inc. (LOW - Free Report) , one of the largest home improvement retailers, came out with second-quarter fiscal 2017 results, wherein adjusted earnings of $1.57 per share missed the Zacks Consensus Estimate of $1.62 but jumped 14.6% year over year.
Management expects earnings in the range of $4.20 to $4.30 per share for fiscal 2017.
Earnings Estimate Revision: The Zacks Consensus Estimate for fiscal 2017 has been portraying a slight downtrend in the last 30 days. In the trailing four quarters (excluding the quarter under review), the company has underperformed the Zacks Consensus Estimate by an average of 1.7%.
Revenues: Lowe's generated total revenue of $19,495 million that increased 6.8% year over year but lagged the Zacks Consensus Estimate of $19,524 million. Comparable sales jumped 4.5% during the quarter.
Management expects total sales growth of nearly 5% and comparable sales to increase 3.5% for fiscal 2017.
Lowe's Companies, Inc. Price, Consensus and EPS Surprise
Lowe's Companies, Inc. Price, Consensus and EPS Surprise | Lowe's Companies, Inc. Quote
Zacks Rank: Currently, Lowe's carries a Zacks Rank #3 (Hold) which is subject to change following the earnings announcement. You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here.
Stock Movement: Lowe’s shares are down nearly 6% during pre-market trading hours following the earnings release.
Check back later for our full write up on Lowe’s earnings report!
4 Surprising Tech Stocks to Keep an Eye on
Tech stocks have been a major force behind the market’s record highs, but picking the best ones to buy can be tough. There’s a simple way to invest in the success of the entire sector. Zacks has just released a Special Report revealing one thing tech companies literally cannot function without. More importantly, it reveals 4 top stocks set to skyrocket on increasing demand for these devices. I encourage you to get the report now – before the next wave of innovations really take off.
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