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Lowe's Cos. Announces Increase In Q1 Income, Beats Estimates - Update

(Adds Outlook)

Lowe's Cos. (LOW) revealed earnings for its first quarter that increased from the same period last year and beat the Street estimates.

The company's earnings came in at $2.33 billion, or $3.51 per share. This compares with $2.32 billion, or $3.21 per share, in last year's first quarter.

Analysts on average had expected the company to earn $3.22 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 3.1% to $23.66 billion from $24.42 billion last year.

Outlook:

Looking forward, the company expects sales to be in the range of $97 billion to $99 billion and earnings per share to be between $13.10 and $13.60 for the full year.

On average, 24 analysts polled by Thomson Reuters expected the company to report earnings of $13.38 per share on revenue of $98.13 billion for the year.


Lowe's Cos. earnings at a glance (GAAP) :

-Earnings (Q1): $2.33 Bln. vs. $2.32 Bln. last year.
-EPS (Q1): $3.51 vs. $3.21 last year.
-Analyst Estimate: $3.22
-Revenue (Q1): $23.66 Bln vs. $24.42 Bln last year.

-Guidance:
Full year EPS guidance: $13.10 - $13.60
Full year revenue guidance: $97 - $99 Bln

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