Lowe's Posts Stronger-than-Expected Earnings

The home improvement retailer reported revenue of $18.6 billion in its latest quarter.

Lowe's store, Fort Collins, Colo., Jan. 2023.
Lowe's store, Fort Collins, Colo., Jan. 2023.

MOORESVILLE, N.C. (AP) — Lowe's Cos. on Tuesday reported fiscal fourth-quarter profit of $1.02 billion.

On a per-share basis, the home improvement retailer said it had profit of $1.77.

The results surpassed Wall Street expectations. The average estimate of 15 analysts surveyed by Zacks Investment Research was for earnings of $1.68 per share.

The company posted revenue of $18.6 billion in the period, also topping Street forecasts. Twelve analysts surveyed by Zacks expected $18.34 billion.

Lowe's expects full-year earnings to be $12 to $12.30 per share, with revenue in the range of $84 billion to $85 billion.

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