Lowe's Retail Company - Lowe's Stock, Expresses Disappointment

Lowe's Retail Company - Lowe's Stock, Expresses Disappointment with Earnings

• Earnings per share: $1.03 adjusted vs. an estimate of $1.06, according to Thomson Reuters analysts.
• Revenue: $16.86 billion vs. a $16.96 billion forecast.
• Same-store sales: 1.9 percent increase vs. a forecast for 2.9 percent growth, according to FactSet.

Lowe's Stock, Lowe's Stock Price, Lowe's Earnings

Lowe's first-quarter earnings and sales fell short of Wall Street estimates, sending shares of the home improvement retailer tumbling in premarket trade.
In the wake of a strong first quarter for rival Home Depot, which recently reported better-than-expected same-store sales fueled by strong sales of big-ticket items, expectations for Lowe's were high.
But the results Lowe's turned in weren't as robust as hoped, given the momentum in the housing sector. Here's what Lowe's reported vs. what the Street was expecting:

• Earnings per share: $1.03 adjusted vs. an estimate of $1.06, according to Thomson Reuters analysts.
• Revenue: $16.86 billion vs. a $16.96 billion forecast by Thomson Reuters.
• Same-store sales: 1.9 percent increase vs. a FactSet forecast for 2.9 percent growth. 

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 Culled From CNBC