Lowe's Companies Q2 Profit Rises; Backs FY15 Outlook - Quick Facts

(RTTNews) - Lowe's Companies, Inc. (LOW) reported second-quarter net income of $1.13 million, or $1.20 per share, compared to $1.04 million, $1.04 per share, prior year.

On average, 26 analysts polled by Thomson Reuters expected the company to report profit per share of $1.24 for the quarter. Analysts' estimates typically exclude special items.

Sales increased 4.5 percent to $17.35 billion from $16.60 billion in the comparable quarter last year, while 24 analysts expected revenue of $17.27 billion for the quarter.

Comparable sales for the quarter increased 4.3 percent and comparable sales for the U.S. home improvement business increased 4.6 percent.

For fiscal 2015, the company still expects earnings per share of approximately $3.29, total sales to increase 4.5 to 5 percent and comparable sales to increase 4 to 4.5 percent. Analysts expect the company to report fiscal 2015 earnings per share of $3.28.