Lowe's: Fiscal 1Q Earnings Snapshot

Associated Press
Updated ·1 min read

MOORESVILLE, N.C. (AP) _ Lowe's Cos. (LOW) on Wednesday reported fiscal first-quarter profit of $1.34 billion.

The Mooresville, North Carolina-based company said it had net income of $1.76 per share. Earnings, adjusted for restructuring costs, were $1.77 per share.

The results surpassed Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of $1.29 per share.

The home improvement retailer posted revenue of $19.68 billion in the period, which also topped Street forecasts. Nine analysts surveyed by Zacks expected $18.26 billion.

Lowe's shares have fallen slightly more than 2% since the beginning of the year, while the Standard & Poor's 500 index has declined 9.5%. The stock has increased 7% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on LOW at https://www.zacks.com/ap/LOW