2023-05-28 05:25:00 ET
During its fiscal 2023 first quarter (ended May 5), Lowe's (NYSE: LOW) generated revenue of $22.3 billion (down 6% year over year) and adjusted diluted earnings per share of $3.67 (up 5%). While these results were a bit of a mixed bag, they exceeded Wall Street estimates. And the stock was up following the news.
Zooming out, shares have been a winning investment, as they climbed 115% over the past five years. But investors should be aware of the company's management team cutting its outlook for the current fiscal year. Many retailers , including Lowe's, are faced with an uncertain economic backdrop.
Despite some near-term headwinds, investors might want to consider buying the stock anyway for a long-term-focused portfolio.
For further details see:
This Major Retailer Just Cut Its Outlook. Is the Stock Worth Buying Anyway?