Lowe’s Companies, Inc. (LOW) Stock Soars on Q4 Earnings Beat

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Lowe’s Companies, Inc. (NYSE:LOW) stock was up on Wednesday following the release of its earnings report for the fourth quarter of 2016.

Lowe's Companies, Inc., LOWLowe’s Companies, Inc. reported earnings per share of 86 cents for the fourth quarter of 2016. This is an increase over its earnings per share of 59 cents that was reported during the same time last year. It also came in above Wall Street’s earnings per share estimate of 79 cents for the quarter.

Revenue reported by Lowe’s Companies, Inc. in the fourth quarter of 2016 was $15.78 billion. Revenue reported by the home improvement retailer in the fourth quarter of 2015 was $13.24 billion. Analysts were expecting LOW to report revenue of $15.39 billion during the fourth quarter of 2016.

During the fourth quarter of 2016,  Lowe’s Companies, Inc. reported operating income of $1.27 billion. The company’s operating income from the same period of the year prior was $439 million.

Net income reported by Lowe’s Companies, Inc. for the fourth quarter of the year was $663 million. LOW reported net income of $11 million during the same time in 2015.

Lowe’s Companies, Inc. also released its guidance for 2017 in its most recent earnings report. The company is expecting earnings per share of $4.64 for the year. Wall Street is expecting the company to report earnings per share of $4.53 in 2017.

Lowe’s Companies, Inc. also notes that it expects revenue for the full year of 2017 to be up by 5% when compared to 2016. This would put revenue for the year at $68.27 billion. Analysts are expecting revenue for the year to be $67.66 billion.

LOW stock was up 9% as of noon Wednesday and is up 14% year-to-date.


Article printed from InvestorPlace Media, https://investorplace.com/2017/03/lowes-companies-inc-low/.

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