MOORESVILLE, N.C. (AP) _ Lowe’s Cos. (LOW) on Wednesday reported fiscal third-quarter net income of $1.05 billion.
The Mooresville, North Carolina-based company said it had net income of $1.36 per share. Earnings, adjusted for restructuring costs, were $1.41 per share.
The results topped Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of $1.35 per share.
The home improvement retailer posted revenue of $17.39 billion in the period, which fell short of Street forecasts. Nine analysts surveyed by Zacks expected $17.69 billion.
Lowe’s expects full-year earnings in the range of $5.63 to $5.70 per share.
Lowe’s shares have increased 23% since the beginning of the year, while the Standard & Poor’s 500 index has climbed 24%. The stock has risen 24% 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
