MOORESVILLE, N.C. (AP) _ Lowe’s Cos. (LOW) on Wednesday reported fiscal second-quarter earnings of $1.68 billion.
The Mooresville, North Carolina-based company said it had net income of $2.14 per share. Earnings, adjusted for non-recurring costs, came to $2.15 per share.
The results beat Wall Street expectations. The average estimate of 13 analysts surveyed by Zacks Investment Research was for earnings of $2 per share.
The home improvement retailer posted revenue of $20.99 billion in the period, also beating Street forecasts. Ten analysts surveyed by Zacks expected $20.98 billion.
Lowe’s expects full-year earnings in the range of $5.45 to $5.65 per share.
Lowe’s shares have increased 6% since the beginning of the year, while the Standard & Poor’s 500 index has climbed 16%. The stock has fallen almost 1% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on LOW at https://www.zacks.com/ap/LOW
The Associated Press
