Lowe's (LOW) Gets a Boost from Home Depot's (HD) Strong Results
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Lowe's Companies (NYSE: LOW) is higher in early action Tuesday following strong results from rival Home Depot (NYSE: HD).
Home Depot reported Q4 EPS of $0.50, $0.08 better than the analyst estimate of $0.42. Revenue for the quarter came in at $16.01 billion versus the consensus estimate of $15.49 billion. Comps rose 5.7%. The company sees FY2012 EPS of $2.72, or $2.79 after anticipated share repurchases, versus the consensus of $2.77. Sees sales growth of approximately 4 percent.
Home Depot's results could suggest a strong fourth quarter for Lowe's when it reports on Monday, February 27, 2012.
Shares of Lowe's last traded at $28.25, up about 2 percent from Tuesday's close.
Home Depot reported Q4 EPS of $0.50, $0.08 better than the analyst estimate of $0.42. Revenue for the quarter came in at $16.01 billion versus the consensus estimate of $15.49 billion. Comps rose 5.7%. The company sees FY2012 EPS of $2.72, or $2.79 after anticipated share repurchases, versus the consensus of $2.77. Sees sales growth of approximately 4 percent.
Home Depot's results could suggest a strong fourth quarter for Lowe's when it reports on Monday, February 27, 2012.
Shares of Lowe's last traded at $28.25, up about 2 percent from Tuesday's close.
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