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Not your typical earnings report coming from Lowe's

May 22, 2018 2:30 PM ETLowe's Companies, Inc. (LOW) StockLOWBy: Clark Schultz, SA News Editor4 Comments
  • There's an increased level of interest about Lowe's (LOW -1.1%) Q1 earnings report tomorrow after the retailer made one of the most interesting CEO hires of 2018 when it named current J.C. Penney chief Marvin Ellison to the position. At least one investment firm thinks it could be indication that the quarterly numbers are a disappointment.
  • Q1 estimates on Lowe's have already been revised lower after a soft quarter was reported by Home Depot due to weather and slow tax refunds, with Q1 revenue of $17.5B off comparable sales growth of 2.2% (Lowe's guided for 3%) expected. Anything below a 1.2% comp would be below the average 300 bps spread over the last two years between Lowe's and Home Depot's comparables. On the bottom line, Q1 EPS of $1.22 is anticipated to be reported. Full-year guidance will on the radar of investors. Analysts expect Lowe's to guide for revenue of $71.3B and EPS of $5.45 for the fiscal year.
  • New CEO Marvin Ellison won't be on the earnings conference call.
  • Previously: Lowe's nabs J.C. Penney's Ellison for CEO spot (May 22)

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