=========Lowe's (LOW) reported earnings on Wed 8/17/16 (b/o)

Lowe's misses by $0.05, reports revs in-line; lowers and guides FY17 EPS above consensus, raises FY17 revs above consensus :

• Reports Q2 (Jul) earnings of $1.37 per share, excluding non-recurring items, $0.05 worse than the Capital IQ Consensus of $1.42; revenues rose 5.3% year/year to $18.26 bln vs the $18.42 bln Capital IQ Consensus.
  • Q2 comparable sales increased 2.0%.
• Co issues lowers guidance for FY17, sees EPS of $4.06 vs. $4.05 Capital IQ Consensus Estimate, down from ~$4.11 prior; sees FY17 revs of +10% YoY to ~$65.0 bln vs. $63.78 bln Capital IQ Consensus Estimate, up from ~+6% YoY $62.6 bln prior guidance
  • The 53rd week is expected to increase total sales by ~1.5%
  • Comparable sales are expected to increase ~4% (unchanged) 
  • The company expects to add approximately 45 home improvement and hardware stores.