--> LOW : -7% pre maket
Lowe's misses by $0.04, reports revs in-line; reaffirms FY16 EPS, rev, and comp guidance; Q1 comps +5.2%
Reports Q1 (Apr) earnings of $0.70 per share, $0.04 worse than the Capital IQ Consensus Estimate of $0.74; revenues rose 5.4% year/year to $14.13 bln vs the $14.26 bln consensus.
- Co reaffirms guidance for FY16, sees EPS of $3.29 vs. $3.31 Capital IQ Consensus Estimate; sees FY16 revs of +4.5-5.0% to ~$58.75-59.0 bln vs. $58.97 bln Capital IQ Consensus Estimate; reaffirms comp guidance of 4 to 4.5%. Co expects to open 15 to 20 home improvement and hardware stores.
- Q1 comparable sales for the quarter increased 5.2%. Comparable sales for the U.S. home improvement business increased 5.3%.