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Aaron Spatz is the writer of SEC Live Filings Digest, detailing the news of companies trading on U.S. stock exchanges. The Filings Digest is but one component of the greater website SEC Live, which specializes in making SEC filings easy to read, research, navigate, and much more.
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  • Lowe's Earnings Increase But Miss Predictions 0 comments
    May 21, 2014 10:56 AM | about stocks: LOW

    Originally published at www.seclive.com

    Lowe's Companies Inc. (NYSE:LOW) announced its financial results for the first fiscal quarter of 2014, posting an earnings increase that fell short of analyst predictions. The home improvement retail giant reported a 2% sales increase from $13.09B to $13.40B, but short of expectations at $13.89B. The company attributed its sluggish revenue growth to a lengthy winter but was optimistic with its May performance. Earnings improved from the year-ago $540M and $0.49 per share to $624M and $0.61 per share, though adjusted earnings per share of $0.58 fell short of analyst expectations at $0.60 per share. CEO Robert Niblock remarked that the company's performance improved substantially in May and expects sales and profits through the remainder of the year to be within expectations. Lowe's increased its annual earnings guidance from $2.60 per share to $2.63, above analyst projections of $2.62 per share for the year.

    Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

    Themes: financial results, earnings Stocks: LOW
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