Lowe's Affirms 2024 Outlook - Update

(RTTNews) - Lowe's Companies, Inc. (LOW) said, for full year 2024, the company continues to project: earnings per share of approximately $12.00 to $12.30; Total sales of $84 billion to $85 billion; and comparable sales to be down 2 to 3%. Analysts polled by Thomson Reuters expect the company to report profit per share of $12.19 on revenue of $84.43 billion. Analysts' estimates typically exclude special items.

First quarter net earnings declined to $1.76 billion from $2.26 billion, a year ago. Earnings per share was $3.06, compared to $3.77. On average, 28 analysts polled by Thomson Reuters expected the company to report profit per share of $2.94, for the quarter.

First quarter total sales were $21.4 billion, compared to $22.3 billion, a year ago. Comparable sales decreased 4.1% as the decline in DIY big ticket discretionary spending was partially offset by positive comparable sales in Pro and online. Analysts on average had estimated $21.12 billion in revenue.

Shares of Lowe's are up 2% in pre-market trade on Tuesday.

For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com.