Lowe’s Beats On Q3 Earnings & Revenues, View Intact

Lowe’s Companies Inc. (LOW – Free Report), one of the largest home improvement retailers, came out with third-quarter fiscal 2017 results, wherein earnings of $1.05 per share surpassed the Zacks Consensus Estimate of $1.02 and also jumped 15.9% year over year.

Management continues to expect earnings in the range of $4.20 to $4.30 per share for fiscal 2017.

Earnings Estimate Revision: The Zacks Consensus Estimate for fiscal 2017 has been portraying a slight downtrend in the last 30 days. In the trailing four quarters (excluding the quarter under review), the company has underperformed the Zacks Consensus Estimate by an average of 1.6%.

Revenues: Lowe’s generated total revenue of $16,770 million that increased 6.5% year over year and also beat the Zacks Consensus Estimate of $16,568 million. Comparable sales jumped 5.1% during the quarter.

Management continues to expect total sales growth of nearly 5% and comparable sales to increase 3.5% for fiscal 2017.

Lowe’s Companies, Inc. Price, Consensus and EPS Surprise

Lowe’s Companies, Inc. Price, Consensus and EPS Surprise | Lowe’s Companies, Inc. Quote

Zacks Rank: Currently, Lowe’s carries a Zacks Rank #3 (Hold), which is subject to change following the earnings announcement. You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here.

Stock Movement: Lowe’s shares are up nearly 1.2% during pre-market trading hours following the earnings release.