=Lowe's (LOW) reported earnings on Wed 11/16/16 (b/o)

Lowe's misses by $0.09, reports revs in-line; lowers FY17 EPS below consensus, revs in-line; Q2 comps +2.7% :

• Reports Q3 (Oct) earnings of $0.88 per share, excluding non-recurring items, $0.09 worse than the Capital IQ Consensus of $0.97; revenues rose 9.6% year/year to $15.74 bln vs the $15.83 bln Capital IQ Consensus; comps +2.7%
• Co issues guidance for FY17, lowers EPS to ~$3.52 from $4.06 vs. $4.03 Capital IQ Consensus Estimate; sees FY17 revs of +9-10% to ~$64.4-65.0 bln (prior guidance ~$65 bln) vs. $64.95 bln Capital IQ Consensus Estimate; sees comps +3-4% (prior guidance +4%)
• "Our third quarter operating results were below our expectations due to slower sales in the first two months of the quarter...While we expected moderation in the second half of the year, traffic slowed more than we anticipated in August and September before improving in October, which put pressure on our profitability in the quarter."