Lowe's Cos. (LOW) Misses Q3 EPS by 1c; Boosts FY13 EPS Outlook, Still Below Views

Lowe's Companies (NYSE: LOW) reported Q3 EPS of $0.47, $0.01 worse than the analyst estimate of $0.48. Revenue for the quarter came in at $12.96 billion versus the consensus estimate of $12.72 billion.

This balanced performance resulted from our improved collaboration and execution within a strengthening home improvement market, combined with our employees' hard work and continued dedication to serving customers, commented CEO Robert Niblock. The home improvement industry is poised for persisting growth in the fourth quarter and further acceleration in 2014.

Comps up 6.2 percent.

Sees FY2013 EPS of $2.15, versus prior guidance of $2.10 and the consensus of $2.19. Total sales are expected to increase approximately 6 percent. The gain implies revs of $53.53 billion (revs of $50.5 billion in FY12), while the Street is at revs of $53.1 billion.

FY13 comps are expected to improve 5 percent. (FY13 comps rose 1.4 percent, U.S. comps up 1.5 percent.)

For earnings history and earnings-related data on Lowe's Companies (LOW) click here.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Micron surges 5.5% on blockbuster Anthropic AI deal ahead of earnings
• Robinhood prices $2B convertible notes offering due 2029
• Sun Communities names Ileana McAlary as general counsel and EVP