Lowe’s Financial Performance

SOURCE www.breitbart.com
Lowe’s slashes full-year forecast due to drop in sales and gloomy outlook, citing high inflation and interest rates. CEO mentions customers waiting for interest rate cuts. Despite challenges, Lowe’s beats Wall Street expectations in adjusted earnings but falls short in revenue. Net income drops compared to the previous year.

Key Points

  • Lowe’s full-year forecast lowered due to drop in quarterly sales and gloomy outlook.
  • CEO mentions customers waiting for interest rate cuts before making big purchases.
  • Despite challenges, Lowe’s beats Wall Street expectations in adjusted earnings but falls short in revenue.
  • Net income drops compared to the previous year.

Pros

  • Lowe’s beats Wall Street expectations in adjusted earnings.

Cons

  • Full-year forecast slashed due to drop in sales and gloomy outlook.
  • Net income drops compared to the previous year.
  • Revenue falls short of expectations.