Lowe's (LOW) To Report Earnings Tomorrow: Here Is What To Expect
Stock Story
Published Feb 26, 2024 02:02
Updated Feb 26, 2024 06:47
Lowe's (LOW) To Report Earnings Tomorrow: Here Is What To Expect
Stock Story -
Home improvement retailer Lowe’s (NYSE:LOW) will be reporting earnings tomorrow before market hours. Here's what you need to know.
Last quarter Lowe's reported revenues of $20.47 billion, down 12.8% year on year, missing analyst expectations by 1.8%. It was a weaker quarter for the company, with underwhelming earnings guidance for the full year and a miss of analysts' revenue estimates.
Is Lowe's buy or sell heading into the earnings? Find out by reading the original article on StockStory.
This quarter analysts are expecting Lowe's's revenue to decline 17.7% year on year to $18.47 billion, a further deceleration on the 5.2% year-over-year decrease in revenue the company had recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.68 per share.
The analysts covering the company have had mixed opinions about the business heading into the earnings, with revenue estimates seeing three upward and three downward revisions over the last thirty days.The company missed Wall St's revenue estimates five times over the last two years.
Looking at Lowe's's peers in the home furnishing and improvement retail segment, some of them have already reported Q4 earnings results, giving us a hint what we can expect. Home Depot (NYSE:HD)'s revenues decreased 2.9% year on year, beating analyst estimates by 0.3% and Floor And Decor reported revenues flat year on year, exceeding estimates by 3.8%. Home Depot traded down 1.2% on the results, and Floor And Decor was up 8.7%.
Read the full analysis of Home Depot's and Floor And Decor's results on StockStory.
There has been positive sentiment among investors in the home furnishing and improvement retail segment, with the stocks up on average 8% over the last month. Lowe's is up 9.7% during the same time, and is heading into the earnings with analyst price target of $235.6, compared to share price of $232.5.
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Written By: Stock Story
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