Lowe's (LOW) Stock Opens Lower as FY22 Guidance Misses EPS and Revenue Consensus Estimates

Shares of Lowe’s (NYSE: LOW) opened about 1% lower today after the company presented its 2022 outlook today at its 2022 Financial Outlook webcast event.

Lowe’s is calling for sales between $94 billion to $97 billion for the full year 2022, which includes an extra week compared to 2021 that will contribute with $1.0 billion to $1.5 billion in extra sales. Comparable sales are expected to range from a decline of 3% to flat, the company said.

Earnings per share are seen between $12.25 to $13.00.

"We are confident in the long-term growth prospects for the Home Improvement market, and that we are making the right investments to continue winning with both our Pro and DIY customers. We also remain committed to driving sustainable shareholder value creation through a disciplined and highly effective capital allocation strategy,” said Marvin R. Ellison, Lowe's chairman, president, and CEO.

The analyst consensus was calling for sales of $97.6 billion and EPS of $12.93.

Lowe’s shares initially traded about 2% down in pre-open.

Lowe’s stock price trades at $251.07 currently, down 0.55% on the day.

You May Also Be Interested In

• John Rogers Jr. to leave Nike board after eight years of service
• Bayer names Kacy Perry head of Crop Science Canada
• HawkEye 360 names new leaders for its ISA division