Business

Profit doubles for Lowe's

Posted November 21, 2017 6:00 am

The Associated Press

MOORESVILLE, N.C. (AP) - Lowe's Cos. is reporting more than twice the third-quarter profits of last year and revenue is stronger than most had expected.

Net income, reported Tuesday, was $872 million, or $1.05 per share. That's 3 cents better than Wall Street projections, according to a poll by by Zacks Investment Research.

The Mooresville, North Carolina, company posted revenue of $16.77 billion, edging out expectations. Lowe's expects full-year earnings to be $4.20 to $4.30 per share.

Shares of Lowe's Cos. have increased 15 percent since the beginning of the year.

_____

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on LOW at https://www.zacks.com/ap/LOW

FILE - In this Tuesday, Sept. 5, 2017, file photo, Anthony Carpanese, left, and Nick Molinaro load plywood in preparation for Hurricane Irma at a Lowe's in Jacksonville, Fla. Lowe's Cos., Inc. reports financial results Tuesday, Nov. 21, 2017. (Will Dickey/The Florida Times-Union via AP, File) The Associated Press

Article Comments

Article Categories
Business Content Providers Nation and World News

Article Comments

Guidelines: Keep it civil and on topic; no profanity, vulgarity, slurs or personal attacks. People who harass others or joke about tragedies will be blocked. If a comment violates these standards or our terms of service, click the "flag" link in the lower-right corner of the comment box. To find our more, read our FAQ.