Top 5 Earnings to Watch This Week

3. Lowe’s Companies, Inc. (NYSE:LOW)

Number of Hedge Fund Holders: 53

Lowe’s Companies, Inc. (NYSE:LOW) recently posted better-than-expected earnings for the second quarter. However, it failed to meet sales expectations for Q2, primarily due to a decline in the U.S. housing market.

The home improvement retailer earned $4.67 per share in the quarter, up from $4.25 per share in the year-ago period. Revenue came in at $27.5 billion, marginally down from $27.6 billion in the comparable period of 2021. Analysts expected Lowe’s Companies, Inc. (NYSE:LOW) to post earnings of $4.58 per share on revenue of $28.1 billion.

Looking forward, Lowe’s Companies, Inc. (NYSE:LOW) guided for earnings in the range of $13.10 – $13.60 per share and revenue between $97 – $99 billion for its fiscal 2022.

Commenting on the results, CEO Marvin R. Ellison said:

“Our results in the first half were disproportionately impacted by our 75% DIY customer mix, which was partially offset by our double-digit Pro growth for the ninth consecutive quarter. Despite continued macro uncertainty, we remain confident in the long-term strength of the home improvement market and our ability to take share.”