Lowe's beats by $0.01, reports revs in-line; raises FY15 EPS above consensus, revs above consensus
Reports Q3 (Oct) earnings of $0.59 per share, $0.01 better than the Capital IQ Consensus Estimate of $0.58; revenues rose 5.6% year/year to $13.68 bln vs the $13.56 bln consensus. Q3 comparable sales for the quarter increased 5.1%.
- Co issues raised guidance for FY15, sees EPS of ~$2.68 from ~$2.63 vs. $2.63 Capital IQ Consensus Estimate; sees FY15 revs of +4.5-5% (prior +4.5%) to ~$55.82-56.08 bln vs. $55.81 bln Capital IQ Consensus Estimate.
- Co sees FY14 comps of +3.5-4% (prior guidance +3.5%); Earnings before interest and taxes as a percentage of sales (operating margin) are expected to increase 70 to 75 basis points.