Lowe's Cos. Q2 Profit Decreases, But Beats Estimates

(RTTNews) - Lowe's Cos. (LOW) revealed a profit for second quarter that decreased from the same period last year but beat the Street estimates.

The company's earnings came in at $2.38 billion, or $4.17 per share. This compares with $2.67 billion, or $4.56 per share, in last year's second quarter.

Excluding items, Lowe's Cos. reported adjusted earnings of $4.10 per share for the period.

Analysts on average had expected the company to earn $3.97 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 5.5% to $23.59 billion from $24.96 billion last year.

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

-Earnings (Q2): $2.38 Bln. vs. $2.67 Bln. last year. -EPS (Q2): $4.17 vs. $4.56 last year. -Revenue (Q2): $23.59 Bln vs. $24.96 Bln last year.