Lowe's earnings beat estimates and company raises guidance despite weakness in big-ticket items
Lowe's topped third-quarter earnings and revenue estimates on Tuesday. The home improvement retailer raised its outlook, but still expects full-year sales to decline from the prior year.
Home improvement retailer Lowe's Cos forecast a slower-than-expected drop in annual comparable sales on Tuesday as a pickup in hurricane-related demand and favorable weather boosted quarterly sales, even as big-ticket spending remained strained.
Lowe's Companies, Inc. LOW will release earnings results for its third quarter, before the opening bell on Tuesday, Nov. 19.
Landon Swan with @LikeFolio points to Lowe's (LOW) Pro User growth and lower interest rates as upsides for the home improvement company. However, it could take time for those tailwinds to form for Lowe's.
Lowe's continues to face challenges in its DIY home improvement segment, a primary area of concern.
Lowe's Companies has seen significant stock growth, but recent revenue and profitability declines prompt a downgrade from 'buy' to 'hold.'. Despite strong historical performance, recent economic conditions and the sale of its Canadian business have negatively impacted Lowe's financials. Analysts predict further revenue and earnings declines for Q3 2024, reinforcing the cautious outlook.
Lowe's Cos. (LOW) is set to report third-quarter results Tuesday morning, with analysts expecting lower revenue than the same time last year despite a potential sales boost from recent hurricanes.
Lowe's will provide millions of dollars in funds to small businesses in its home state of North Carolina that are struggling to recover in the wake of Hurricane Helene.
Besides Wall Street's top -and-bottom-line estimates for Lowe's (LOW), review projections for some of its key metrics to gain a deeper understanding of how the company might have fared during the quarter ended October 2024.
Though corporate earnings will start to dwindle next week, there are still several big-name retailers scheduled to report following this Friday's retail sales data.
Lowe's (LOW) possesses the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.