Lowe’s shares in pre-conference trading rose 1.7% as the home improvement company reported quarterly earnings and sales that exceeded expectations, while its earnings estimates for the year as a whole were optimistic.
Net income rose to $ 1.21 billion, or $ 1.78 a share, from $ 978 million, or $ 1.32 a share, a year ago.
Convergent estimates spoke of 71 cents earnings per share.
Sales rose 4.8 percent to $ 21.34 billion, compared with estimates for $ 20.93 billion, as sales costs rose 3.3 percent to $ 14.31 billion, with gross margin rising to $ 32. , 9% from 31.8%.
Comparable sales rose 5%, exceeding estimates for an increase of 3%, while the increase in comparable sales in the US was 5.1% against expectations for 4.1%.
For the year 2022, the company expects earnings per share of $ 13.10-13.60, against estimates for $ 12.93 and sales at $ 97-99 billion against estimates for $ 97.14 billion.
Source: Capital
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