Lowe's (LOW) Misses Q2 Expectations on Cramped Margins; Cuts FY12 Outlook; Home Depot (HD) Reacts
Tweet
Share
E-mail
Get Alerts LOW Hot Sheet
Price: $217.34 --0%
Financial Fact:
Weighted average common shares outstanding - diluted: 874M
Today's EPS Names:
BTTX, VAXX, ELYS, More
Financial Fact:
Weighted average common shares outstanding - diluted: 874M
Today's EPS Names:
BTTX, VAXX, ELYS, More
Join SI Premium – FREE
Lowe's Co.'s (NYSE: LOW) shares are getting hit Monday morning following the home goods retailers second-quarter 2012 results, issued earlier in the session.
Sales fell 2 percent in the period, to $14.25 billion from the same period last year. Net income dropped 10 percent to $747 million, or 64 cents per share. After adjusting for one-time items, EPS was a more robust 65 cents.
Overall, the Street was expecting EPS of 70 cents on sales of $14.5 billion.
Comps fell 0.4 percent in the quarter while gross margin slimmed from 34.5 percent down to 33.9 percent.
Looking ahead, Lowe's sees fiscal 2012 earnings of $1.64, flat sales, and comps up 0.5 percent. The outlook compares with consensus views calling for EPS $1.80. Last quarter, Lowe's said it was looking for fiscal 2012 EPS of $1.73 - $1.83 with sales up 1 to 2 percent and comps up 1 to 3 percent.
More curious is why rival Home Depot (NYSE: HD) is lower this morning. The orage apron-clad giant blew up expectations with its report, indicating that Lowe's troubles are more company-specific than industry wide.
Shares of Lowe's are off 7.3 percent.
Sales fell 2 percent in the period, to $14.25 billion from the same period last year. Net income dropped 10 percent to $747 million, or 64 cents per share. After adjusting for one-time items, EPS was a more robust 65 cents.
Overall, the Street was expecting EPS of 70 cents on sales of $14.5 billion.
Comps fell 0.4 percent in the quarter while gross margin slimmed from 34.5 percent down to 33.9 percent.
Looking ahead, Lowe's sees fiscal 2012 earnings of $1.64, flat sales, and comps up 0.5 percent. The outlook compares with consensus views calling for EPS $1.80. Last quarter, Lowe's said it was looking for fiscal 2012 EPS of $1.73 - $1.83 with sales up 1 to 2 percent and comps up 1 to 3 percent.
More curious is why rival Home Depot (NYSE: HD) is lower this morning. The orage apron-clad giant blew up expectations with its report, indicating that Lowe's troubles are more company-specific than industry wide.
Shares of Lowe's are off 7.3 percent.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Lowe's (LOW) PT Lowered to $275 at Guggenheim
- UBS says bull market has further to run
- Piper Sandler Reiterates Overweight Rating on Patterson-UTI Energy (PTEN)
Create E-mail Alert Related Categories
Earnings, Insiders' BlogRelated Entities
EarningsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
