Lowe's Companies Sees FY23 Sales Of Approximately $86B Versus Prior Guidance Of $87B–$89B Versus Consensus Of $87.61B
Portfolio Pulse from Benzinga Newsdesk
Lowe's Companies has updated its FY23 sales forecast, now expecting approximately $86 billion, which is lower than its previous guidance of $87 billion to $89 billion and below the consensus estimate of $87.61 billion.
November 21, 2023 | 11:04 am
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Lowe's Companies has lowered its FY23 sales guidance, which may lead to negative investor sentiment and a potential decrease in stock price in the short term.
The revision of Lowe's sales forecast to a figure below both its previous guidance and the consensus estimate suggests that the company may not perform as well as expected, which typically leads to a negative reaction in the stock market. Investors may view this as a sign of weaker future performance, potentially leading to a sell-off of LOW shares in the short term.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100