Lowe’s Companies Reports Q1 EPS Beat, Provides 2022 Guidance

Lowe’s Companies, Inc. (NASDAQ:LOW) reported its Q1 results, with EPS of $3.51 coming in better than the consensus estimate of $3.24. Revenue was $23.7 billion, slightly lower than the consensus estimate of $23.8 billion. Consolidated comparable sales declined 4% in Q1. Shares were trading more than 2% higher Thursday afternoon.
Sales are more skewed to DIY customers and seasonal categories. Analysts at Oppenheimer view the somewhat softer than planned Q1 sales as reflective of a slower start to Spring and as masking indications of otherwise continued solid demand in the home improvement category.
The company provided its full 2022-year outlook, expecting EPS in the range of $13.10-$13.60, compared to the consensus of $13.38, and revenue in the range of $97-99 billion, compared to the consensus of $98.1 billion.

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