LOW - Lowe's Analysts Boost Their Forecasts After Upbeat Q4 Results | Benzinga
Lowe’s Companies Inc (NYSE: LOW) posted better-than-expected fourth-quarter results on Tuesday.
Lowe’s reported fourth-quarter FY23 sales of $18.60 billion, beating the analyst consensus estimate of $18.45 billion. EPS of $1.77 beat the consensus estimate of $1.68, according to data from Benzinga Pro.
Comparable sales decreased 6.2% Y/Y due to slow DIY demand and unfavorable January winter weather, while Pro customer comparable sales remained flat flat Y/Y.
"This quarter we delivered strong operating profit and improved customer satisfaction, despite the continued pullback in DIY spending,” commented Marvin R. Ellison, Lowe’s chairman, president and CEO.
For FY24, Lowe’s expects revenue of $84 billion-$85 billion (against the Street ...