Lowe’s Shares Fall On Narrow Q3 Earnings Miss, 2020 Outlook

Lowe’s Companies Inc.  (LOW) – Get Report posted modestly softer-than-expected third quarter earnings Wednesday, but a muted holiday season outlook sent shares sharply lower in early trading.

Lowe’s said adjusted earnings for the three months ending on November 1 were pegged at $1.98 per share, a 40.4% increase from the same period last year but one penny shy of the Street consensus forecast. Group revenues, Lowe’s said, rose 28.2% to $22.3 billion, topping analysts’ estimates of a $21.25 billion tally.

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