Lowe's Guides FY23 Earnings In Line With Estimates - Update

(RTTNews) - While reporting financial results for the fourth quarter on Wednesday, home improvement retailer Lowe's Cos., Inc. (LOW) initiated its earnings, total sales and comparable sales guidance for the full-year 2023.

For fiscal 2023, the company now projects earnings in a range of $13.60 to $14.00 per share on total sales between $88 billion and $90 billion. Comparable sales are expected to range from flat to down 2 percent.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $13.79 per share on sales of $90.48 billion for the year. Analysts' estimates typically exclude special items.

For the fourth quarter, comparable sales for the fourth quarter decreased 1.5 percent, and comparable sales for the U.S. home improvement business decreased 0.7 percent.

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