שאַרעס פון Lowe's Companies Inc.NYSE: נידעריק) are down 4.0% on Wednesday after the home improvement retailer blamed unseasonably cold temperature for lower-than-expected sales in fiscal Q1.
Key takeaways from Lowe’s Q1 results
- נעץ האַכנאָסע איז געווען $ 2.33 ביליאָן, וואָס איז איבערגעזעצט צו $ 3.51 פּער שער.
- In Q1 last year, net income was $2.32 billion or $3.21 per share.
- Sales slid 3.1% YoY to $23.66 billion, as per the פאַרדינסט דרוק מעלדונג.
- FactSet קאָנסענסוס איז געווען פֿאַר $ 3.22 פון עפּס אויף $ 23.77 ביליאָן אין פארקויפונג.
- Same-store sales were down 4.0% versus a 2.5% decline expected.
A 3.8% decline in U.S. comparable sales, however, was better than a 4.2% decline that experts had forecast.
צוקונפֿט דערוואַרטונג
For fiscal 2022, Lowe’s reiterated its guidance for EPS in the range of $13.10 to $13.60 on up to $99 billion in revenue. The Mooresville-headquartered company plans on buying back $12 billion worth of its stock.
Oppenheimer analyst reacts to the earnings report
According to Oppenheimer’s Brian Nagel, a 4.0% decline in Lowe’s comparable sales is not “that big of a deal”, even after peer Home Depot reported same-store sales growth yesterday. On CNBC ס "Squawk Box", ער האט געזאגט:
Lowe’s is more focused on the outdoor DIY category. Home Depot yesterday said there’s been a slower start to Spring. But as the spring weather has finally come, these seasonal products have picked up. I think Lowe’s will say the same.
He sees the stock down more than 25% from its year-to-date high as “quite cheap”.
די פּאָסטן די רעזולטאטן פון Lowe Q1: די פאַרקלענערן אין דער זעלביקער קראָם סאַלעס איז נישט 'אַז גרויס געשעפט' ארויס ערשטער אויף ינוועזז.
Source: https://invezz.com/news/2022/05/18/lowes-q1-results-same-store-sales-decline-is-not-that-big-of-a-deal/