iStock.com/M. Suhail
MOORESVILLE, N.C. (AP) — Lowe's Cos. on Tuesday reported fiscal second-quarter net income of $2.38 billion.
On a per-share basis, the home improvement retailer said it had profit of $4.17. Earnings, adjusted for non-recurring gains, were $4.10 per share.
The results beat Wall Street expectations. The average estimate of 14 analysts surveyed by Zacks Investment Research was for earnings of $3.96 per share.
The company posted revenue of $23.59 billion in the period, which missed Street forecasts. Ten analysts surveyed by Zacks expected $23.91 billion.
Lowe's expects full-year earnings in the range of $11.70 to $11.90 per share, with revenue in the range of $82.7 billion to $83.2 billion.
