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Lowe’s (LOW) earnings Q2 2022

A buyer pushes a buying cart in direction of the doorway of a Lowe’s retailer in Harmony, California, on Tuesday, Feb. 23, 2021.

David Paul Morris | Bloomberg | Getty Photographs

Lowe’s on Wednesday reported second-quarter earnings that beat analysts’ expectations, though income fell brief.

The corporate mentioned gross sales to do-it-yourself prospects have been harm by the shortened spring and decrease demand for sure discretionary objects. That was partially offset by a rise in gross sales to professionals.

The outcomes come after House Depot on Tuesday reported better-than-expected earnings and income for the second quarter, and stood by its forecast.

This is what the corporate reported in contrast with what Wall Road was anticipating, based mostly on a survey of analysts by Refinitiv:

  • Earnings per share: $4.67 cents, adjusted, vs. $4.58 anticipated
  • Income: $27.48 billion vs. $28.12 billion anticipated

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