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Wednesday, August 21, 2019

-=Lowe's (LOW) reported earnings on Wed 21 Aug 2019 (b/o)

Lowe's beats by $0.15, reports revs in-line, comps +2.3%; reaffirms FY20 guidance
  • Reports Q2 (Jul) earnings of $2.15 per share, excluding non-recurring items, $0.15 better than the S&P Capital IQ Consensus of $2.00; revenues rose 0.5% year/year to $20.99 bln vs the $20.96 bln S&P Capital IQ Consensus.
  • Comparable sales increased 2.3 percent (vs. estimates for +1.8%); Comparable sales for the U.S. home improvement business increased 3.2 percent. 
  • "We capitalized on spring demand, strong holiday event execution and growth in Paint and our Pro business to deliver strong second quarter results. Despite lumber deflation and difficult weather, we are pleased that we delivered positive comparable sales in all 15 geographic regions of the U.S. This is a reflection of a solid macroeconomic backdrop and continued momentum executing our retail fundamentals framework," commented Marvin R. Ellison, Lowe's president and CEO.
  • Co reaffirms guidance for FY20, sees EPS of $5.45-5.65, excluding non-recurring items, vs. $5.57 S&P Capital IQ Consensus; sees FY20 revs of ~$72.74 bln (+2%) vs. $72.53 bln S&P Capital IQ Consensus; Comparable sales are expected to increase approximately 3 percent.

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