Lowe’s (LOW) posted results that beat the Street’s estimates, but investors are homing in on its ongoing negative sales growth. The home improvement retailer posted revenue of $20.17 billion, compared to estimates of $19.93 billion. Adjusted earnings per share came in at $2.89, versus the $2.82 expected.
Positive catalysts in the near future include more Fed rate cuts, hurricane-related recovery efforts, and normalizing “post-pandemic demand trends,” Telsey Advisory Group’s Joe Feldman wrote in a note to clients prior to results.
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