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Lowe’s to report fiscal Q2 earnings Aug. 19 amid soft demand
Analysts expect revenue of $26.2 billion and earnings of $4.24 per share for the quarter ended Aug. 1, with sales seen up 9.3% year over year but earnings down 2%.
Lowe’s (NYSE: LOW) is scheduled to report fiscal second-quarter earnings before the market opens on Aug. 19, according to a preview published by The Motley Fool on Yahoo Finance.
The quarter ended Aug. 1, with sell-side forecasts calling for revenue of $26.2 billion and earnings of $4.24 per share. That would imply year-over-year sales growth of 9.3%, alongside a 2% decline in earnings.
The article notes that Lowe’s has dealt with soft demand, even as it reported better-than-expected results last quarter and maintained a soft outlook for the year. It also points to acquisition-driven top-line growth since last year, including purchases of Foundation Building Materials and Artisan Design Group, while attributing near-term profitability pressure to sluggish same-store sales, higher interest expense, and lower margins.
Lowe’s shares were described as down about 10.5% year to date, trading around 17 times forward earnings versus Home Depot’s forward multiple of 23.5. The preview also highlights a dividend yield of 2.3% at the current share price, and it outlines that analysts see earnings growth of 7.8% next fiscal year and nearly 10% in the following year.