Lowe's Cos. Q4 Profit Decreases, but beats estimates

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

The company's bottom line came in at $957 million, or $1.58 per share. This compares with $1.21 billion, or $1.78 per share, in last year's fourth quarter.

Excluding items, Lowe's Cos. reported adjusted earnings of $2.28 per share for the period.

Analysts on average had expected the company to earn $2.21 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 5.2% to $22.45 billion from $21.34 billion last year.

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

-Earnings (Q4): $957 Mln. vs. $1.21 Bln. last year. -EPS (Q4): $1.58 vs. $1.78 last year. -Analyst Estimates: $2.21 -Revenue (Q4): $22.45 Bln vs. $21.34 Bln last year.