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Lowe’s (LOW) earnings 3Q 2022

A Lowe’s worker walks via the shop in the course of the grand opening of the Lowe’s retailer in San Francisco, California.

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Lowe’s reported third-quarter earnings on Wednesday that beat analysts’ expectations, with income up in comparison with the identical interval final year.

Here’s what Lowe’s reported on Wednesday in contrast with analyst expectations, primarily based on a survey of analysts by Refinitiv:

  • Earnings per share: $3.27 vs. $3.10
  • Revenue: $23.48 billion vs. $23.13 billion

In August, Lowe’s stated it anticipated whole and comparable gross sales for the year towards the underside of its outlook vary, forecasting gross sales of $97 billion to $99 billion, and comparable gross sales to be down 1% to as much as 1%. The company stated working earnings and earnings are anticipated to be towards the highest finish of its earlier forecast.

Lowe’s earnings report comes a day after Home Depot‘s third quarter earnings beat analyst’s estimates. On Tuesday, Home Depot stated its skilled and do-it-yourself gross sales had constructive development in the course of the interval, including that professionals have stated their backlogs stay sturdy.

Home Depot executives on Tuesday had famous the company was “navigating a unique environment,” and was unable to foretell how rising prices and different pressures have been affecting its clients. The company stated that whereas its buyer transactions have been down, it had larger ticket costs pushed by inflation.

This is a growing story. Check again for updates.

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