Lowe’s: Fiscal 4Q Earnings Snapshot

By The Associated Press

MOORESVILLE, N.C. (AP) _ Lowe’s Cos. (LOW) on Wednesday reported fiscal fourth-quarter net income of $509 million, after reporting a loss in the same period a year earlier.

The Mooresville, North Carolina-based company said it had profit of 66 cents per share. Earnings, adjusted for non-recurring costs, came to 94 cents per share.

The results beat Wall Street expectations. The average estimate of 13 analysts surveyed by Zacks Investment Research was for earnings of 91 cents per share.

The home improvement retailer posted revenue of $16.03 billion in the period, missing Street forecasts. Ten analysts surveyed by Zacks expected $16.15 billion.

Lowe’s expects full-year earnings in the range of $6.45 to $6.65 per share.

Lowe’s shares have fallen almost 1% since the beginning of the year, while the Standard & Poor’s 500 index has declined 3%. The stock has risen 13% in the last 12 months.

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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 https://www.zacks.com/ap/LOW

The Associated Press

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