Lowe's Companies, Inc. Q3 Profit Decreases, But Beats Estimates

(RTTNews) - Lowe's Companies, Inc. (LOW) reported earnings for third quarter that Decreased from last year but beat the Street estimates.

The company's earnings totaled $1.616 billion, or $2.88 per share. This compares with $1.695 billion, or $2.99 per share, last year.

Excluding items, Lowe's Companies, Inc. reported adjusted earnings of $3.06 per share for the period.

Analysts on average had expected the company to earn $2.95 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period rose 3.2% to $20.813 billion from $20.170 billion last year.

Lowe's Companies, Inc. earnings at a glance (GAAP) :

-Earnings: $1.616 Bln. vs. $1.695 Bln. last year. -EPS: $2.88 vs. $2.99 last year. -Revenue: $20.813 Bln vs. $20.170 Bln last year.

Looking ahead, for the full year, LOW has revised up its sales outlook above analysts’ expectations.

The company now anticipates total sales of $86 billion, higher than the prior guidance of $84.5 billion to $85.5 billion.

LOW now expects adjusted income of around $12.25 per share, compared with the earlier outlook of $12.20 to $12.45 per share.  

Analysts, on average, forecast LOW to post revenue of $85.66 billion, with earnings of $12.27 per share.

LOW was up by 4.60% at $230 in the pre-market trade on the New York Stock Exchange.