Lowe's beats Street 3Q forecasts
MOORESVILLE, N.C. (AP) — Lowe's Cos. (LOW) on Wednesday reported fiscal third-quarter earnings of $736 million.
The Mooresville, North Carolina-based company said it had profit of 80 cents per share.
The results exceeded Wall Street expectations. The average estimate of 14 analysts surveyed by Zacks Investment Research was for earnings of 78 cents per share.
The home improvement retailer posted revenue of $14.36 billion in the period, also topping Street forecasts. Eleven analysts surveyed by Zacks expected $14.31 billion.
Lowe's expects full-year earnings to be $3.29 per share.
Lowe's shares have risen almost 6 percent since the beginning of the year, while the Standard & Poor's 500 index has stayed nearly flat. The stock has climbed 24 percent in the last 12 months.
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 http://www.zacks.com/ap/LOW
Keywords: Lowe's, Earnings Report, Priority Earnings