Lowe's posts Q2 EPS beat, trims guidance to low end
Lowe’s Companies reported second-quarter earnings of $4.40 per share, above consensus, with comps of 0.2% and management guiding to the low end of its prior range.
Shares of Lowe’s Companies Inc (NYSE: LOW ) rallied in early trading on Wednesday, after the company reported its second-quarter results. While the company reported comps in line with expectations, it reduced guidance to the low end of the prior range, according to JPMorgan analyst Christopher Horvers. The Lowe’s Companies Analyst: Horvers reiterated an Overweight rating on the stock. Although the stock jumped on same-store sales hitting the higher end of expectations, "the absolute performance and lowered guidance should weigh," Horvers said in the note.
Check out other analyst stock ratings. 23 per share. 5% year-on-year and included a tariff benefit of 11 cents per share. 4% decline.
6%. Tariff refunds drove around 30 bps of gross margin expansion. 7% online sales growth and “continued strength in Pro,” partially offset by macro-related DIY pressures, the analyst wrote. 25 per share Lowe’s guidance now includes the second-quarter tariff refunds but excludes potential tariff refunds in the back half of the year, Horvers noted.
5%, and earnings around 40 cents per share below, the analyst further stated. 12 at the time of publication on Wednesday. Read Also: Lowe’s CEO Flags ‘Pressure in Discretionary DIY Spending’ Image: Shutterstock