Lowe's Reports Mixed Quarterly Results

The retailer's earnings beat Wall Street expectations, but its revenue fell short.

Lowe's store, Hickory, N.C., June 2018.
Lowe's store, Hickory, N.C., June 2018.

MOORESVILLE, N.C. (AP) — Lowe's Cos. on Wednesday reported fiscal first-quarter earnings of $2.33 billion.

On a per-share basis, the Mooresville-based company said it had profit of $3.51.

The results exceeded Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of $3.24 per share.

The home improvement retailer posted revenue of $23.66 billion in the period, which missed Street forecasts. Ten analysts surveyed by Zacks expected $23.73 billion.

Lowe's expects full-year earnings to be $13.10 to $13.60 per share, with revenue in the range of $97 billion to $99 billion.

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