Lowe's GAAP EPS of $4.67 Beats By $0.07, Revenue of $27.48B Misses By $680M
Seeking Alpha2022-08-17
- Lowe's Q2 GAAP EPS of $4.67beats by $0.07.
- Revenue of $27.48B (-0.3% Y/Y)misses by $680M.
- Comparable sales decreased 0.3%.
- Comparable sales for the U.S. home improvement business increased 0.2%.
- The company now expects FY2022 total and comparable sales toward the bottom end of its outlook range and expects operating income and diluted EPS toward the top end of its outlook range provided below:
- FY2022 Outlook: Total sales of $97B to $99B vs. consensus of $97.51B; Comparable sales expected to range from a decline of 1% to an increase of 1%; Gross margin rate up slightly compared to prior year; Depreciation and amortization of approximately $1.75B; Operating income as a percentage of sales (operating margin) of 12.8% to 13.0%; Interest expense of $1B to $1.1B; Effective income tax rate of approximately 25%; Diluted earnings per share of $13.10 to $13.60 vs. consensus of $13.40; Total share repurchases of approximately $12B; ROIC of over 36%; Capital expenditures of approximately $2B.
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