Lowe's beats by $0.02, beats on revs; reaffirms FY18 EPS guidance, revs guidance
Reports Q3 (Oct) earnings of $1.05 per share, $0.02 better than the Capital IQ Consensus of $1.03; revenues rose 6.6% year/year to $16.77 bln vs the $16.59 bln Capital IQ Consensus.
Comparable sales increased 5.7%. Hurricane-related sales in the quarter were ~$200 million.
Comparable sales for the U.S. home improvement business increased 5.1% for the third quarter and 3.9% for the nine-month period.
Co reaffirms guidance for FY18, sees EPS of $4.20-4.30 vs. $4.50 Capital IQ Consensus Estimate; sees FY18 revs of +5% to $68.27 bln vs. $68.39 bln Capital IQ Consensus Estimate.
Comparable sales are expected to increase ~3.5%
The company expects to add ~25 home improvement and hardware stores.