Lowe's Cos. Q3 Profit Decreases, but beats estimates

Lowe's Cos. (LOW) reported a profit for third quarter that decreased from the same period last year but beat the Street estimates.

The company's bottom line came in at $154 million, or $0.25 per share. This compares with $1.90 billion, or $2.73 per share, in last year's third quarter.

Excluding items, Lowe's Cos. reported adjusted earnings of $3.27 per share for the period.

Analysts on average had expected the company to earn $3.10 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 2.4% to $23.48 billion from $22.92 billion last year.

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

-Earnings (Q3): $154 Mln. vs. $1.90 Bln. last year.
-EPS (Q3): $0.25 vs. $2.73 last year.
-Analyst Estimates: $3.10
-Revenue (Q3): $23.48 Bln vs. $22.92 Bln last year.

Full year EPS guidance: $13.65 - $13.80
Full year revenue guidance: $97 - $98 Bln

For comments and feedback contact: editorial@rttnews.com

Follow RTT