Lowe's Earnings Improve 26%

Nov. 20, 2013 11:10 AM ETLOW
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Contributor Since 2013

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.

Originally published at www.seclive.com

Lowe's Companies Inc. (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.

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

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