Originally published at www.seclive.com
Lowe's Companies Inc. (NYSE:LOW) announced its financial results for the third fiscal quarter 2013, reporting earnings that jumped 26% from last year. The world's second-largest home improvement retailer saw a 7.3% increase in sales from $12.1B to $13.0B, while comparable-store sales rose 6.2%. Earnings were up to $499M, with earnings per share increasing from $0.35 a year ago to $0.47 this quarter. Lowe's delivered more value to its shareholders through a $761M share repurchase program and $191M in dividend payments to its investors. The company raised its earnings guidance from $2.10 per share to $2.15 per share for the year. Chairman, President, and CEO Robert Niblock remarked that the company continued to perform well and assesses business will accelerate through the year and into next year.
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