Lowe's beat first-quarter earnings expectations but lowered its full-year sales outlook.
The home improvement retailer beat first-quarter earnings and revenue expectations.CREATE FREE ACCOUNT
It lowered its forecast even as it beat Wall Street's revenue and earnings expectations for the fiscal first quarter.Here's what the home improvement retailer reported for the three-month period ended May 5 compared with what Wall Street was expecting, based on a survey of analysts by Refinitiv:Revenue: $22.35 billion vs. $21.6 billion expected
Comparable sales dropped 4.3% in the fiscal first quarter. That's lower than the 3.4% decline that Wall Street expected, according to StreetAccount. It said adjusted earnings per share will range between $13.20 to $13.60, below its previous range of $13.60 to $14.00.
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