Lowe's (LOW) stock rose 2% on Wednesday after the company reported an earnings beat but gave a more cautious outlook, citing "pressure" in do-it-yourself (DIY) consumer spending.
In the second quarter, Lowe's revenue came in at $26 billion, just below the $26.1 billion the Street expected. Adjusted earnings per share, which included a $0.11 benefit from IEEPA tariff refunds, came in at $4.27, above the $4.22 the Street predicted based on Bloomberg estimates.
"Our total home strategy is working," Lowe's CEO Marvin Ellison told Yahoo Finance. "This strategic framework has enabled us to drive five consecutive quarters of positive comps. … With the DIY under pressure, we still have been able to deliver."
Poor weather during the Memorial Day weekend weighed on weather-sensitive outdoor and seasonal categories, as did competitors' use of tariff refunds to put up promotions on items like grills, patio, and live goods.
Amid a tough housing backdrop that disproportionately affects DIY customers, Lowe's same-store sales grew 0.2%, below the 0.7% expected.
#refunds
In the second quarter, Lowe's revenue came in at $26 billion, just below the $26.1 billion the Street expected. Adjusted earnings per share, which included a $0.11 benefit from IEEPA tariff refunds, came in at $4.27, above the $4.22 the Street predicted based on Bloomberg estimates.
"Our total home strategy is working," Lowe's CEO Marvin Ellison told Yahoo Finance. "This strategic framework has enabled us to drive five consecutive quarters of positive comps. … With the DIY under pressure, we still have been able to deliver."
Poor weather during the Memorial Day weekend weighed on weather-sensitive outdoor and seasonal categories, as did competitors' use of tariff refunds to put up promotions on items like grills, patio, and live goods.
Amid a tough housing backdrop that disproportionately affects DIY customers, Lowe's same-store sales grew 0.2%, below the 0.7% expected.
#refunds
2 days ago
