Lowe's Cos. Announces Increase In Q1 Income, Beats estimates

(RTTNews) - Lowe's Cos. (LOW) revealed earnings for its first quarter that increased from the same period last year and beat the Street estimates.

The company's earnings came in at $2.33 billion, or $3.51 per share. This compares with $2.32 billion, or $3.21 per share, in last year's first quarter.

Analysts on average had expected the company to earn $3.22 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 3.1% to $23.66 billion from $24.42 billion last year.

Lowe's Cos. earnings at a glance (GAAP) :

-Earnings (Q1): $2.33 Bln. vs. $2.32 Bln. last year. -EPS (Q1): $3.51 vs. $3.21 last year. -Analyst Estimate: $3.22 -Revenue (Q1): $23.66 Bln vs. $24.42 Bln last year.

-Guidance: Full year EPS guidance: $13.10 - $13.60 Full year revenue guidance: $97 - $99 Bln