Lowe's Cos. Q1 Profit Drops, But Beats Estimates

Lowe's Companies

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(RTTNews) - Lowe's Cos. (LOW) released earnings for first quarter that decreased from the same period last year but beat the Street estimates.

The company's bottom line totaled $1.641 billion, or $2.92 per share. This compares with $1.755 billion, or $3.06 per share, last year.

Analysts on average had expected the company to earn $2.88 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period fell 2.0% to $20.930 billion from $21.364 billion last year.

Lowe's Cos. earnings at a glance (GAAP) :

-Earnings: $1.641 Bln. vs. $1.755 Bln. last year. -EPS: $2.92 vs. $3.06 last year. -Revenue: $20.930 Bln vs. $21.364 Bln last year.

Looking ahead, for the full year, the company has reaffirmed its guidance.

For fiscal 2025, Lowe's Companies continues to project earnings per share of $12.15 to $12.40, and sales of $83.5 billion to $84.5 billion.

The Wall Street analysts, on average, expect the company to record earnings of $12.21 per share on revenue of $84.31 billion for the year.

For fiscal 2024, the company had posted earnings per share of $12.23 and sales of $83.67 billion.

The company still expects annual capital expenditures of approximately $2.5 billion.

LOW was up by 2.95% at $238.08 per share in the pre-market trade on the New York Stock Exchange.