Lowe's misses by $0.04, reports revs in-line; reaffirms FY16 EPS guidance, revs guidance; Q2 comps +4.3%
- Reports Q2 (Jul) earnings of $1.20 per share, $0.04 worse than the Capital IQ Consensus Estimate of $1.24; revenues rose 4.5% year/year to $17.35 bln vs the $17.28 bln consensus. Co reported Q2 comps of +4.3%.
- Co reaffirms guidance for FY16, sees EPS of $3.29 vs. $3.28 Capital IQ Consensus Estimate; sees FY16 revs of +4.5-5.0% to ~$58.75-59.0 bln vs. $58.82 bln Capital IQ Consensus Estimate. Co sees that FY16 Comparable sales are expected to increase 4 to 4.5%. The company expects to add 15 to 20 home improvement and hardware stores.