Home improvement retailer Lowe's Companies Inc. (LOW) reported first-quarter net earnings of $540 million, a 2.5 percent increase from last year's $527 million. Earnings per share increased 14.0 percent to $0.49 from $0.43 in prior year quarter. Analysts polled by Thomson Reuters expected the company to report earnings of $0.51 per share for the quarter. Analysts' estimates typically exclude special items.
Sales for the quarter decreased about 0.5 percent to $13.09 billion from $13.15 billion in the first quarter of 2012, while comparable sales for the quarter decreased 0.7 percent. Twenty three analysts had consensus revenue estimate of $13.46 billion for the quarter.
Looking ahead for fiscal 2013, the company still expects earnings per share of about $2.05 on total sales increase of about 4 percent. Comparable sales are expected to increase approximately 3.5 percent. Analysts expect the company to report earnings of $2.08 per share on revenues of $52.38 billion for fiscal 2013.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.