Lowe's misses by $0.02, misses on revs; guides FY15 EPS above consensus, reaffirms FY15 revs guidance
Reports Q1 (Apr) earnings of $0.58 per share, excluding non-recurring items, $0.02 worse than the Capital IQ Consensus Estimate of $0.60; revenues rose 2.4% year/year to $13.4 bln vs the $13.86 bln consensus.
Co issues reaffirms guidance for FY15, sees EPS of ~$2.63, excluding non-recurring items, vs. $2.62 Capital IQ Consensus Estimate; sees FY15 revs of up ~5% to ~$56.09 bln vs. $56.08 bln Capital IQ Consensus Estimate.
- Excluded in the above reported results are charges related to long-lived asset impairments, which reduced pre-tax earnings for the first quarter by $23 million and diluted earnings per share by $0.01.
- Also excluded in the above reported results is the impact of a lower tax rate in the first quarter. The lower tax rate, primarily the result of a settlement of prior year tax matters, contributed $0.04 to diluted earnings per share.
- Q1 comparable sales increased 0.9%
Co issues reaffirms guidance for FY15, sees EPS of ~$2.63, excluding non-recurring items, vs. $2.62 Capital IQ Consensus Estimate; sees FY15 revs of up ~5% to ~$56.09 bln vs. $56.08 bln Capital IQ Consensus Estimate.
- Comparable sales are expected to increase ~4%.
- The company expects to open ~10 home improvement and 5 hardware stores.