=Lowe's (LOW) reported earnings on Tue 20 Nov 2018 (b/o)

Lowe's beats by $0.06, reports revs in-line; lowers FY19 guidance

• Reports Q3 (Oct) earnings of $1.04 per share, excluding non-recurring items, $0.06 better than the S&P Capital IQ Consensus of $0.98; revenues rose 3.8% year/year to $17.41 bln vs the $17.36 bln S&P Capital IQ Consensus.
  • Comparable sales increased 1.5 percent. Comparable sales for the U.S. home improvement business increased 2.0 percent for the third quarter.
• Co issues downside guidance for FY19, sees EPS of $5.08-5.13 vs. $5.16 S&P Capital IQ Consensus; sees FY19 revs of +4% YoY to ~$70 bln vs. $71.59 bln S&P Capital IQ Consensus, and down from prior guidance of +4.5% YoY.
  • Comparable sales are expected to increase approximately 2.5 percent