{"id":51595,"date":"2023-08-22T12:00:00","date_gmt":"2023-08-22T16:00:00","guid":{"rendered":"https:\/\/ifintechworld.com\/investing\/lowes-stock-is-rising-earnings-beat-expectations\/"},"modified":"2023-08-22T12:00:03","modified_gmt":"2023-08-22T16:00:03","slug":"lowes-stock-is-rising-earnings-beat-expectations","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=51595","title":{"rendered":"Lowe’s Stock Is Rising. Earnings Beat Expectations."},"content":{"rendered":"
\n
<\/p>\n

<\/p>\n

<\/p>\n
<\/div>\n<\/figure><\/div>\n

Home-improvement retailer
\n Lowe\u2019s
\n beat earnings expectations in the second quarter, and stuck to its full-year guidance despite softening demand for do-it-yourself projects.<\/p>\n

\n Lowe\u2019s
\n stock (ticker: LOW) is up 2.6% in premarket trading to $223.30 shortly after earnings were released. The shares have risen 9.2% this year as of Monday\u2019s close.<\/p>\n

\n

The company reported earnings per share of $4.56 in the quarter, beating FactSet expectations for $4.47. Revenue of $25 billion was in line with analysts\u2019 estimates.<\/p>\n

Comparable-store sales fell 1.6% for the period, narrower than the 2.6% drop expected by analysts polled by FactSet. The company said a \u201cstrong spring recovery\u201d and online sales growth offset lumber deflation and lower DIY discretionary demand.<\/p>\n

\u201cLowe\u2019s results were slightly better than published expectations, and probably about in line with how the market was positioned,\u201d wrote D.A. Davidson analyst Michael Baker in a Tuesday note. Baker has a Buy rating on Lowe\u2019s stock with a $237 price target. <\/p>\n

Lowe\u2019s sees comparable-store sales falling 2% to 4% for the full year, with earnings per share of $13.20 to $13.60, and revenue of $87 billion to $89 billion. That\u2019s largely in line with Wall Street, which is expecting profit of $13.33 a share on sales of $88 billion.<\/p>\n

\u201cOur ability to reduce expenses while improving customer service is the result of excellent execution by our team, and we remain confident in the mid- to long-term outlook for the home-improvement industry,\u201d said CEO Marvin Ellison in a company statement.<\/p>\n

Lowe\u2019s results suggest that challenges for the home improvement sector may ease in the second half of the year, wrote TD Cowen analyst Max Rakhlenko, who has a Market Perform rating on the stock with a $225 price target. <\/p>\n

Better weather and lower prices for lumber should be favorable for the company, Rakhlenko wrote, adding that he expects \u201csolid demand\u201d for smaller renovation projects. However, he is still monitoring an ongoing slowdown in discretionary big-ticket categories\u2014something competitor
\n Home Depot
\n (HD) warned about as well. <\/p>\n

\u201cWhile there was strength in categories associated with smaller projects, we did see continued pressure in certain big-ticket, discretionary categories,\u201d Home Depot CEO Ted Decker said in a company statement last week. Home Depot topped earnings expectations and reiterated its fiscal year financial forecasts, leading to a flurry of increases to targets for the stock price. <\/p>\n

The home-improvement sector has been under pressure from a lack of activity in the housing market. Higher mortgage rates are sidelining potential buyers, and are also cutting into the renovation projects that often take place following the purchase of a house. Tack on inflation and an unseasonably cold spring, and even interest in DIY projects has weakened. <\/p>\n

Of the two largest home-improvement retailers, Home Depot has fared slightly better, thanks to its larger exposure to professional builders. But Lowe\u2019s has been carving out its own business serving contractors, as well as expanding its customer base into new demographic groups, including rural communities\u2014and those investments are starting to pay off. In 2019, Pro sales made up 19% of annual sales, compared with the current roughly 25%.\u00a0<\/p>\n

Lowe\u2019s has scheduled a call with investors Tuesday at 9 a.m. Eastern. Analysts will be looking for more commentary on consumer spending, including demand for discretionary purchases, as well as updates on its Pro business and its rural transformation, Rakhlenko wrote.<\/p>\n

Write to Sabrina Escobar at sabrina.escobar@barrons.com<\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Home-improvement retailer Lowe\u2019s beat earnings expectations in the second quarter, and stuck to its full-year guidance despite softening demand for do-it-yourself projects. Lowe\u2019s stock (ticker: LOW) is up 2.6% in premarket trading to $223.30 shortly after earnings were released. The shares have risen 9.2% this year as of Monday\u2019s close. The company reported earnings per […]<\/p>\n","protected":false},"author":1,"featured_media":51596,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[239],"tags":[83],"class_list":["post-51595","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-investing","tag-featured","post_format-post-format-video"],"yoast_head":"\nLowe's Stock Is Rising. Earnings Beat Expectations. | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Home-improvement retailer Lowe\u2019s beat earnings expectations in the second quarter, and stuck to its full-year guidance despite softening demand for\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ifintechworld.com\/?p=51595\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Lowe's Stock Is Rising. Earnings Beat Expectations. | iFintechWorld\" \/>\n<meta property=\"og:description\" content=\"Home-improvement retailer Lowe\u2019s beat earnings expectations in the second quarter, and stuck to its full-year guidance despite softening demand for\" \/>\n<meta property=\"og:url\" content=\"https:\/\/ifintechworld.com\/?p=51595\" \/>\n<meta property=\"og:site_name\" content=\"iFintechWorld\" \/>\n<meta property=\"article:published_time\" content=\"2023-08-22T16:00:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-08-22T16:00:03+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/08\/1692720001_social.jpeg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"640\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"News Room\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"News Room\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/ifintechworld.com\/?p=51595#article\",\"isPartOf\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=51595\"},\"author\":{\"name\":\"News Room\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61\"},\"headline\":\"Lowe’s Stock Is Rising. Earnings Beat Expectations.\",\"datePublished\":\"2023-08-22T16:00:00+00:00\",\"dateModified\":\"2023-08-22T16:00:03+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=51595\"},\"wordCount\":563,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/ifintechworld.com\/#organization\"},\"keywords\":[\"Featured\"],\"articleSection\":[\"Investing\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/ifintechworld.com\/?p=51595#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/ifintechworld.com\/?p=51595\",\"url\":\"https:\/\/ifintechworld.com\/?p=51595\",\"name\":\"Lowe's Stock Is Rising. Earnings Beat Expectations. | iFintechWorld\",\"isPartOf\":{\"@id\":\"https:\/\/ifintechworld.com\/#website\"},\"datePublished\":\"2023-08-22T16:00:00+00:00\",\"dateModified\":\"2023-08-22T16:00:03+00:00\",\"description\":\"Home-improvement retailer Lowe\u2019s beat earnings expectations in the second quarter, and stuck to its full-year guidance despite softening demand for\",\"breadcrumb\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=51595#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/ifintechworld.com\/?p=51595\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/ifintechworld.com\/?p=51595#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/ifintechworld.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Lowe’s Stock Is Rising. Earnings Beat Expectations.\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/ifintechworld.com\/#website\",\"url\":\"https:\/\/ifintechworld.com\/\",\"name\":\"Repay Down\",\"description\":\"Latest Personal Finance News, Tips and Updates\",\"publisher\":{\"@id\":\"https:\/\/ifintechworld.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/ifintechworld.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/ifintechworld.com\/#organization\",\"name\":\"Repay Down\",\"url\":\"https:\/\/ifintechworld.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png\",\"contentUrl\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png\",\"width\":558,\"height\":90,\"caption\":\"Repay Down\"},\"image\":{\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61\",\"name\":\"News Room\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png\",\"contentUrl\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png\",\"caption\":\"News Room\"},\"sameAs\":[\"https:\/\/ifintechworld.com\"],\"url\":\"https:\/\/ifintechworld.com\/?author=1\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Lowe's Stock Is Rising. Earnings Beat Expectations. | iFintechWorld","description":"Home-improvement retailer Lowe\u2019s beat earnings expectations in the second quarter, and stuck to its full-year guidance despite softening demand for","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/ifintechworld.com\/?p=51595","og_locale":"en_US","og_type":"article","og_title":"Lowe's Stock Is Rising. Earnings Beat Expectations. | iFintechWorld","og_description":"Home-improvement retailer Lowe\u2019s beat earnings expectations in the second quarter, and stuck to its full-year guidance despite softening demand for","og_url":"https:\/\/ifintechworld.com\/?p=51595","og_site_name":"iFintechWorld","article_published_time":"2023-08-22T16:00:00+00:00","article_modified_time":"2023-08-22T16:00:03+00:00","og_image":[{"width":1280,"height":640,"url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/08\/1692720001_social.jpeg","type":"image\/jpeg"}],"author":"News Room","twitter_card":"summary_large_image","twitter_misc":{"Written by":"News Room","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/ifintechworld.com\/?p=51595#article","isPartOf":{"@id":"https:\/\/ifintechworld.com\/?p=51595"},"author":{"name":"News Room","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61"},"headline":"Lowe’s Stock Is Rising. Earnings Beat Expectations.","datePublished":"2023-08-22T16:00:00+00:00","dateModified":"2023-08-22T16:00:03+00:00","mainEntityOfPage":{"@id":"https:\/\/ifintechworld.com\/?p=51595"},"wordCount":563,"commentCount":0,"publisher":{"@id":"https:\/\/ifintechworld.com\/#organization"},"keywords":["Featured"],"articleSection":["Investing"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/ifintechworld.com\/?p=51595#respond"]}]},{"@type":"WebPage","@id":"https:\/\/ifintechworld.com\/?p=51595","url":"https:\/\/ifintechworld.com\/?p=51595","name":"Lowe's Stock Is Rising. Earnings Beat Expectations. | iFintechWorld","isPartOf":{"@id":"https:\/\/ifintechworld.com\/#website"},"datePublished":"2023-08-22T16:00:00+00:00","dateModified":"2023-08-22T16:00:03+00:00","description":"Home-improvement retailer Lowe\u2019s beat earnings expectations in the second quarter, and stuck to its full-year guidance despite softening demand for","breadcrumb":{"@id":"https:\/\/ifintechworld.com\/?p=51595#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/ifintechworld.com\/?p=51595"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/ifintechworld.com\/?p=51595#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/ifintechworld.com\/"},{"@type":"ListItem","position":2,"name":"Lowe’s Stock Is Rising. Earnings Beat Expectations."}]},{"@type":"WebSite","@id":"https:\/\/ifintechworld.com\/#website","url":"https:\/\/ifintechworld.com\/","name":"Repay Down","description":"Latest Personal Finance News, Tips and Updates","publisher":{"@id":"https:\/\/ifintechworld.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/ifintechworld.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/ifintechworld.com\/#organization","name":"Repay Down","url":"https:\/\/ifintechworld.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/","url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png","contentUrl":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png","width":558,"height":90,"caption":"Repay Down"},"image":{"@id":"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61","name":"News Room","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/image\/","url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png","contentUrl":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png","caption":"News Room"},"sameAs":["https:\/\/ifintechworld.com"],"url":"https:\/\/ifintechworld.com\/?author=1"}]}},"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/51595","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=51595"}],"version-history":[{"count":1,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/51595\/revisions"}],"predecessor-version":[{"id":51597,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/51595\/revisions\/51597"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/media\/51596"}],"wp:attachment":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=51595"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=51595"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=51595"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}