A Lowe’s worker walks by way of the shop in the course of the grand opening of the Lowe’s retailer in San Francisco, California.
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Lowe’s will report third-quarter earnings on Wednesday earlier than the bell, the second home-improvement retailer in two days to supply steering on how inflation and different macroeconomic headwinds are affecting its enterprise.
The corporate had reported mixed second-quarter results in August, saying its improved operations had offset lower-than-expected gross sales damage by a shortened spring. Lowe’s had stated on the time its gross sales to do-it-yourself prospects had been significantly damage by decrease demand for sure merchandise.
This is what Wall Avenue expects Lowe’s to report on Wednesday, primarily based on a survey of analysts by Refinitiv:
- Earnings per share: $3.10 anticipated
- Income: $23.13 billion
In August, Lowe’s stated it anticipated whole and comparable gross sales for the yr towards the underside of its outlook vary, forecasting gross sales of $97 billion to $99 billion, and comparable gross sales to be down 1% to as much as 1%. The corporate stated working earnings and earnings are anticipated to be towards the highest finish of its earlier forecast.
Lowe’s earnings report comes a day after Home Depot‘s third quarter earnings beat analyst’s estimates. On Tuesday, Residence Depot stated its skilled and do-it-yourself gross sales had optimistic development in the course of the interval, including that professionals have stated their backlogs stay sturdy.
Residence Depot executives on Tuesday had famous the corporate was “navigating a singular setting,” and was unable to foretell how rising prices and different pressures had been affecting its prospects. The corporate stated that whereas its buyer transactions had been down, it had larger ticket costs pushed by inflation.
It is a creating story. Examine again for updates.
