Lowe's Cos. (LOW) Tops Q3 EPS by 3c, Sales Beat
Lowe's Cos. (NYSE: LOW) reported Q3 EPS of $1.05, $0.03 better than the analyst estimate of $1.02. Revenue for the quarter came in at $16.8 billion versus the consensus estimate of $16.59 billion.
Comparable sales for the U.S. home improvement business increased 5.1 percent for the third quarter and 3.9 percent for the nine-month period.
"During the third quarter, we drove traffic in-store and online with compelling messaging and integrated customer experiences. We continue to invest in omni-channel capabilities to enhance value for customers and shareholders," commented Robert A. Niblock, Lowe's chairman, president and CEO. "I am also pleased with the progress we've made to enhance our product and service offering for the Pro customer, delivering another quarter of comparable sales above the company average.
"I am incredibly proud of our team\'s unwavering commitment to serving customers and their communities every day. This commitment was especially evident this quarter, as our employees mounted the largest natural disaster response in our history. Our merchant, vendor, logistics, and store teams worked together seamlessly to ensure customers had the right products to protect and repair their homes, and we remain committed to helping impacted communities rebuild in the months ahead," Niblock added.
GUIDANCE:
Lowe's Cos. sees FY2017 EPS of $4.20-$4.30, versus the consensus of $4.50. Total sales are expected to increase approximately 5 percent.
For earnings history and earnings-related data on Lowe's Cos. (LOW) click here.