Lowe’s: Fiscal Q1 Earnings Snapshot
Posted May 19, 2021 6:09 am.
Last Updated May 19, 2021 6:24 am.
MOORESVILLE, N.C. (AP) _ Lowe’s Cos. (LOW) on Wednesday reported fiscal first-quarter net income of $2.32 billion.
The Mooresville, North Carolina-based company said it had net income of $3.21 per share.
The results surpassed Wall Street expectations. The average estimate of 13 analysts surveyed by Zacks Investment Research was for earnings of $2.58 per share.
The home improvement retailer posted revenue of $24.42 billion in the period, also surpassing Street forecasts. Eight analysts surveyed by Zacks expected $23.66 billion.
Lowe’s shares have risen 20% since the beginning of the year, while the S&P’s 500 index has increased roughly 10%. The stock has climbed 65% 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
The Associated Press