Pershing Square (Bill Ackman) discloses updated portfolio positions in 13F filing

Highlights from Q2 2023 filing as compared to Q1 2023:

• Increased positions in: GOOG (to ~9.38 mln shares from ~8.07 mln shares), HHH (to ~16.57 mln from ~15.98 mln), HLT (to ~9.33 mln from ~9.3 mln)
• Maintained positions in: GOOGL (~2.19 mln shares)
• Decreased positions in: LOW (to ~7.47 mln shares from ~10.04 mln shares), QSR (to ~23.35 mln from ~24.19 mln), CMG (to ~0.95 mln from ~1.03 mln), CP (to ~15.1 mln from ~15.24 mln)

Lowe's (LOW) reported earnings on Wed 21 Aug 19 (b/o)

** charts after earnings **

 

Lowe's beats by $0.15, reports revs in-line, comps +2.3%; reaffirms FY20 guidance

Reports Q2 (Jul) earnings of $2.15 per share, excluding non-recurring items, $0.15 better than the S&P Capital IQ Consensus of $2.00; revenues rose 0.5% year/year to $20.99 bln vs the $20.96 bln S&P Capital IQ Consensus.

Comparable sales increased 2.3 percent (vs. estimates for +1.8%); Comparable sales for the U.S. home improvement business increased 3.2 percent. 

"We capitalized on spring demand, strong holiday event execution and growth in Paint and our Pro business to deliver strong second quarter results. Despite lumber deflation and difficult weather, we are pleased that we delivered positive comparable sales in all 15 geographic regions of the U.S. This is a reflection of a solid macroeconomic backdrop and continued momentum executing our retail fundamentals framework," commented Marvin R. Ellison, Lowe's president and CEO.

Co reaffirms guidance for FY20, sees EPS of $5.45-5.65, excluding non-recurring items, vs. $5.57 S&P Capital IQ Consensus; sees FY20 revs of ~$72.74 bln (+2%) vs. $72.53 bln S&P Capital IQ Consensus; Comparable sales are expected to increase approximately 3 percent.

Earnings this week : Aug 19 - 23, 19 (wk 34)

Monday (Aug 19)

• Morning: EL  QIWI  SINA  WB
• Afternoon: BIDU FN IQ

Tuesday (Aug 20)
Morning: CMCM HD KSS MDT MSG PINC PLAB PPDF SDRL SE SFL TJX

• Afternoon: AMCR CREE JKHY LZB NDSN SCSC TOL URBN

Wednesday (Aug 21)

• Morning: ADI BZUN KLXE LOW MSGN PLCE   PDD  RY TGT VIOT
• Afternoon: HTHT JWN KEYS LB PSTG QADA SNPS  SPLK WUBA ZAYO

Thursday (Aug 22)

• Morning: BJ CM DKS FLWS FLY GSX  HMLP HRL TTC
• Afternoon: ATGE CRM GPS HPQ INTU ROST VMW

Friday (Aug 23) 

• Morning: BKE  FL HIBB

Notable earnings reports:

• Baidu (NASDAQ:BIDU) and Estee Lauder (NYSE:EL) on August 19; 
• Home Depot (HD), TJX Companies (NYSE:TJX), Toll Brothers (NYSE:TOL), Urban Outfitters (NASDAQ:URBN) and Kohl's (NYSE:KSS) on August 20; 
• Splunk (NASDAQ:SPLK), Target (NYSE:TGT), Nordstrom (NYSE:JWN), Lowe's (LOW) and Analog Devices (NASDAQ:ADI) on August 21; 
• Salesforce.com (NYSE:CRM), VMWare (NYSE:VMW), HP Inc. (NYSE:HPQ), Gap (NYSE:GPS) and Dick's Sporting Goods (NYSE:DKS) on August 22; 
• Foot Locker (NYSE:FL) on August 23.

-=Lowe's (LOW) reported earnings on Wed 22 May 2019 (b/o)

Lowe's misses by $0.11, reports revs in-line; lowers full year EPS guidance, reaffirms full year revs and comp guidance

• Reports Q1 (Apr) adjusted earnings of $1.22 per share, $0.11 worse than the S&P Capital IQ Consensus of $1.33; revenues rose 2.2% year/year to $17.74 bln vs the $17.65 bln S&P Capital IQ Consensus.
  • Same store comps were +3.5%; US Comps were +4.2%.
• Co issues guidance for FY19, sees adjusted EPS of $5.45-5.65 vs. $6.05 S&P Capital IQ Consensus, and down from prior guidance of $6.00-6.10; reaffirms FY19 revenue guidance growth of 2%, which we compute as  approx $72.7 bln vs. $72.46 bln S&P Capital IQ Consensus.
  • Co reaffirms full year comp guidance at approx +3%.

Earnings this week : May 20 - 24, 19 (wk 21)

Monday (May 20)

• Morning: AZZ IGT PDD QD SPTN
• Afternoon: NDSN

Tuesday (May 21)

• Morning: AZO DAVA DY EV HD JCP KSS MNRO SFL TJX
• Afternoon: CRMT JWN OOMA PSTG SE SKY TOL URBN

Wednesday (May 22)

• Morning: AAP ADI CM CSWI LOW PLAB TGT VFC
• Afternoon: CPRT CTRP HTHT LB MOD NTAP SCVL SNPS VIPS

Thursday (May 23)

• Morning: BBY BJ BRC CTRN HRL MDT ROLL RY SDRL SINA TD TK TNK TTC VIOT WB WMS
• Afternoon: ADSK CVCO DECK DXC HPE HPQ INTU LGF.A ROST SPLK VSAT

Friday (May 24) 

• Morning: BKE FL HIBB

=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

Earnings this week : Nov 19 - 23, 18 (wk 47)

Earnings confirmed to report this week

Monday (Nov 19) 

• Morning: JD SPB
• Afternoon: A BECN BRKS GH INTU JACK KLIC LB NUAN PSTG URBN

Tuesday (Nov 20)

• Morning: ADI BBY BKS CPB DY HRL JEC KSS LOW MDT MMS NJR PDD ROST SFL TGT TJX
• Afternoon: ADSK BILI BJ CAL CPRT ESL FL GPS KEYS QADA SE

Wednesday (Nov 21)

• Morning: BZUN CMCM DAKT DE QD
• Afternoon: None

Thursday (Nov 22)

• Markets closed for Thanksgiving

Friday (Nov 23)

• None

=Lowe's (LOW) reported earnings on Wed 23 May 18 (b/o)

Lowe's misses by $0.02, reports revs in-line; reaffirms FY19 EPS guidance, guides FY19 revs in-line 

• Reports Q1 (Apr) earnings of $1.19 per share, $0.02 worse than the Capital IQ Consensus of $1.21; revenues rose 3.0% year/year to $17.36 bln vs the $17.44 bln Capital IQ Consensus.
• Co issues guidance for FY19, sees EPS of $5.40-5.50 vs. $5.45 Capital IQ Consensus Estimate; sees FY19 revs of +5% YoY to ~$71.2 bln vs. $71.22 bln Capital IQ Consensus Estimate.
  • Comparable sales are expected to increase approximately 3.5 percent.
  • The company expects to add approximately 10 home improvement and hardware stores

=J. C. Penney (JCP) : Chairman and CEO Marvin R. Ellison resigns to become CEO of Lowe's (LOW)

While Ellison will remain a director and CEO through June 1, he will step down from his position as chairman of the board effective immediately. The board of directors has elected current Lead Independent Director Ronald W. Tysoe as Chairman of the Board and has created an Office of the CEO, which will be comprised of Chief Financial Officer Jeff Davis, Chief Customer Officer Joe McFarland, Chief Information Officer and Chief Digital Officer Therace Risch and Executive Vice President of Supply Chain Mike Robbins. These four leaders will share equal responsibility for the Company's day-to-day operations until a new CEO is appointed. A search committee has been formed to conduct a search for a chief executive officer at JCPenney.

Lowe's names Marvin Ellison as President and CEO effective July 2, 2018 

• Ellison succeeds Robert A. Niblock, who previously announced his intention to retire.
• The Lowe's board has also appointed Richard W. Dreiling, a director of Lowe's since 2012, as chairman, effective July 2, 2018.
• Ellison currently serves as chairman and CEO of J. C. Penney Company, Inc., where he implemented a turnaround strategy.

=Lowe's (LOW) reported earnings on Wed 28 Feb 2018 (b/o)

Lowe's misses by $0.13, beats on revs; guides FY19 EPS below consensus, revs in-line 

• Reports Q4 (Jan) earnings of $0.74 per share, excluding non-recurring items, $0.13 worse than the Capital IQ Consensus of $0.87; revenues fell 1.8% year/year to $15.49 bln vs the $15.34 bln Capital IQ Consensus.
  • Comparable Sales increased 4.1%
• Co issues guidancefor FY19, sees EPS of $5.40-5.50 vs. $5.87 Capital IQ Consensus Estimate; sees FY19 revs of +4% YoY to ~$71.14 bln vs. $71.3 bln Capital IQ Consensus Estimate.
  • Comparable sales are expected to increase approximately 3.5%.
  • The company expects to add 10 home improvement and hardware stores

=Lowe's (LOW) reported earnings on Wed 23 August 2017 (b/o)

Lowe's misses by $0.06, reports revs in-line; guides FY18 EPS below consensus, reaffirms FY18 revs guidance; Q2 comps +4.5%

• Reports Q2 (Jul) earnings of $1.57 per share, excluding non-recurring items, $0.06 worse than the Capital IQ Consensus of $1.63; revenues rose 6.8% year/year to $19.5 bln vs the $19.58 bln Capital IQ Consensus. Q2 Comparable sales increased 4.5 percent
• Co issues guidance for FY18, sees EPS of $4.20-4.30, excluding non-recurring items, vs. $4.64 Capital IQ Consensus Estimate; sees FY18 revs of +5% to $68.27 bln vs. $68.4 bln Capital IQ Consensus Estimate. EPS guidance is reflective of the loss on extinguishment of debt and the gain from the sale of the company's interest in its Australian joint venture (prior guidance $4.20-4.30). Comparable sales are expected to increase approximately 3.5 percent The company expects to add approximately 25 home improvement and hardware stores. Operating income as a percentage of sales (operating margin) is expected to increase 80 to 100 basis points.2 The effective income tax rate is expected to be 36.9%.

=Lowe's (LOW) reported earnings on Wed 24 May 2017 (b/o)

• Lowe's weak quarter stands in stark contrast to retail rival

NEW YORK (AP) -- A hefty charge cut into first-quarter sales at Lowe's and investors were unimpressed by the retailer's profit, sending shares down sharply in early trading.

The contrast was even more stark for Wall Street, given the upward trajectory of Lowe's rival, Home Depot Inc.

Lowe's shares slumped 7 percent before the opening bell.

Profit fell 32 percent to $602 million, or 70 cents per share. Earnings, adjusted to extinguish debt, came to $1.03 per share, 4 cents shy of per-share projections from industry analysts, according to a poll by Zacks Investment Research.

Sales rose 10.7 percent to $16.86 billion, which was also below Wall Street projections of $17.04 billion.

Same-store sales, a key measure of health for retailers, rose only 2 percent during the quarter, short of analyst expectations of 3.1 percent, according to a survey by the data company FactSet.

Lowe's Cos., based in Mooresville, North Carolina, expects full-year earnings to be $4.30 per share, which is actually better than Wall Street expects.

=Lowe's(LOW) reported earnings on Wed 1 March 17 (b/o)

 Lowe's beats by $0.08, beats on revs; guides FY18 EPS above consensus, revs above consensus:

• Reports Q4 (Jan) earnings of $0.86 per share, excluding non-recurring items, $0.08 better than the Capital IQ Consensus of $0.78; revenues rose 19.3% year/year to $15.78 bln vs the $15.39 bln Capital IQ Consensus.
  • Comparable sales increased 5.1 percent.
• Co issues upside guidance for FY18, sees EPS of $4.64 vs. $4.52 Capital IQ Consensus Estimate; sees FY18 rev growth of 5% to $68.27 bln vs. $67.64 bln Capital IQ Consensus Estimate.
• Comparable sales are expected to increase approximately 3.5 percent
• The company expects to add approximately 35 home improvement and hardware stores.
• Earnings before interest and taxes as a percentage of sales (operating margin) are expected to increase approximately 120 basis points.

=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."

=========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.

== Lowe's (LOW) reported earnings Wed 18 Nov 2015 (before open)

** charts before earnings **





** charts after earnings **

Lowe's beats by $0.01, reports revs in-line; reaffirms FY16 EPS guidance, revs guidance  :

• Reports Q3 (Oct) earnings of $0.80 per share, $0.01 better than the Capital IQ Consensus of $0.79; revenues rose 5.0% year/year to $14.36 bln vs the $14.35 bln Capital IQ Consensus.
• Co reaffirms guidance for FY16, sees EPS of ~$3.29 vs. $3.31 Capital IQ Consensus Estimate; sees FY16 revs of +4.5-5.0% to ~$58.75-59.0 bln vs. $58.99 bln Capital IQ Consensus Estimate.
  • Comparable sales are expected to increase 4 to 4.5%
  • The company expects to add 15 to 20 home improvement and hardware stores