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Lowe's (LOW) Beats on Q3 Earnings & Sales, Up Y/Y

Lowe's Companies Inc.LOW , one of the largest home improvement retailers, came out with third-quarter fiscal 2015 results, wherein earnings of 80 cents per share beat the Zacks Consensus Estimate of 78 cents and surged 35.6% year over year.

Management continues to expect earnings of approximately $3.29 per share for fiscal 2015. The current Zacks Consensus Estimate for the fiscal year is also pegged at $3.29.

Earnings Estimate Revision: The Zacks Consensus Estimate for fiscal 2015 has been flat in the last 30 days. In the trailing four quarters (excluding the quarter under review), the company has underperformed the Zacks Consensus Estimate by an average of 0.4%.

Revenues: Lowe's generated total revenue of $14,360 million that advanced about 5% year over year, and surpassed the Zacks Consensus Estimate of $14,306 million. Comparable sales jumped 4.6% during the quarter.

Management reiterated total sales growth forecast of 4.5% to 5% and comparable sales growth of 4% to 4.5% for fiscal 2015.

Key Events: Lowe's, which operated 1,849 home improvement and hardware outlets as of Oct 30, bought back $750 million of shares under its buyback program and paid $260 million in dividends in the quarter under review. The company now plans to open 15 to 20 home improvement and hardware outlets.

Zacks Rank: Currently, Lowe's carries a Zacks Rank #3 (Hold) which is subject to change following the earnings announcement.

Check back later for our full write up on Lowe's earnings report!

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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