Lowe's Companies FY24 Outlook: Revenue $84B - $85B Vs. Vs. $85.61B Estimate, EPS $12.00 - $12.30 Vs. $12.95 Estimate
Portfolio Pulse from Benzinga Newsdesk
Lowe's Companies has provided its FY24 outlook, projecting revenues between $84B and $85B, which is below the $85.61B estimate. EPS is expected to be between $12.00 and $12.30, also below the $12.95 estimate. The company anticipates a -2 to -3% decline in comparable sales from the previous year, with an operating margin of 12.6% to 12.7%, interest expenses of about $1.4B, an effective tax rate of 25%, and capital expenditures of around $2B.
February 27, 2024 | 11:04 am
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Lowe's Companies projects FY24 revenues of $84B-$85B, below estimates of $85.61B, and EPS of $12.00-$12.30, under the $12.95 estimate. Comparable sales are expected to decline by -2 to -3%.
The projected revenues and EPS for Lowe's Companies are both below market estimates, indicating potential challenges in the company's performance. The expected decline in comparable sales further suggests a negative outlook for the company's financial health in the short term. This combination of factors is likely to lead to a negative perception among investors, potentially impacting the stock price negatively in the short term.
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IMPORTANCE 90
RELEVANCE 100