Lowe’s reports higher profits and exceeds analyst predictions
- Lowe’s 4Q earnings increased despite lower sales
- Profit of $1.02 billion, compared to $957 million last year
- Earnings per share of $1.77, beating analyst expectations
- Quarterly revenue declined to $18.6 billion
- Comparable sales down 6.2% during the quarter
- Lowe’s expects earnings of $12 to $12.30 a share for the fiscal year ahead
- Projected decline of 2% to 3% in comparable sales for the new fiscal year
Earnings for Lowe’s increased in the fourth quarter, even with a lower base of sales as it improved gross margin and cut overhead costs. The home-improvement retailer posted a profit of $1.02 billion for the quarter ended Feb. 2, compared with $957 million in the same quarter a year ago. Earnings were $1.77 a share, surpassing analyst expectations. Quarterly revenue declined to $18.6 billion from $22.45 billion last year. Comparable sales, which adjust for store openings and closings, were down 6.2% during the quarter. For the fiscal year ahead, Lowe’s is expecting earnings of $12 to $12.30 a share on revenue of $84 billion to $85 billion. Comparable sales are projected to decline 2% to 3% for the new fiscal year.
Factuality Level: 8
Factuality Justification: The article provides factual information about Lowe’s earnings in the fourth quarter, including profit, earnings per share, revenue, and analyst expectations. The corrections made to the headline are also mentioned, adding to the overall factuality of the article.
Noise Level: 3
Noise Justification: The article provides relevant information about Lowe’s earnings in the fourth quarter, including profit, earnings per share, revenue, and analyst expectations. It stays on topic and supports its claims with data. However, it lacks in-depth analysis, accountability, and actionable insights, which prevents it from scoring higher.
Financial Relevance: Yes
Financial Markets Impacted: Lowe’s
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Rating Justification: The article pertains to Lowe’s financial performance in the fourth quarter and provides information on its earnings, revenue, and sales projections for the fiscal year ahead. There is no mention of any extreme events.
Public Companies: Lowe’s (LOW)
Key People:
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