Lowe's Beats Wall Street's Q4 Earnings, Expects Decline in Sales for Fiscal Year

Lowe's Performance

Exceeding Projections

Lowe's exceeded Wall Street's earnings and revenue estimates for the quarter despite seeing fewer home projects. It cut its full-year forecast, citing a "greater-than-expected pullback" in pricier items and discretionary home projects. The company's net income was $1.02 billion, with earnings per share of $1.77. Sales fell from $22.45 billion in the year-ago period, and comparable sales dropped by 6.2% year over year. Shares of Lowe's closed at $231.32 on Monday.