Lowe’s earnings for the fourth quarter of 2018 are mixed, but LOW stock is still a bit higher on Wednesday.
Source: Mike Mozart via Flickr (modified)
Lowe’s (NYSE:LOW) reported earnings per share of 80 cents for the fourth quarter of the year. This is better than the company’s earnings per share of 74 cents reported during the same time last year. It was also good news for LOW stock by coming in above Wall Street’s earnings per share estimate of 79 cents for the fourth quarter of 2018.
The Lowe’s earnings report for the fourth quarter of 2018 also has it announcing a net loss of $824 million. This is a drop from the company’s net income of $554 million reported in the fourth quarter of 2017.
Lowe’s earnings report for the fourth quarter of the year includes an operating loss of $567 million. The home improvement retail company reported operating income of $1.10 billion for the same period of the year prior.
Revenue of $15.65 billion from the Lowe’s earnings report for the fourth quarter of 2018 is where things turn bad. This is an increase over the company’s revenue of $15.49 billion from the fourth quarter of the previous year. Despite the increase, this is below analysts’ revenue estimate of $15.74 billion for the period, but that wasn’t enough to drag LOW stock into the negatives on Wednesday.
LOW stock was up 1% as of noon Wednesday and is up 13% since the start of the year.
As of this writing, William White did not hold a position in any of the aforementioned securities.