Lowe's Q1 Earnings Preview: Can Home Improvement Retailer Shine After Home Depot's Mixed First Quarter?
Portfolio Pulse from Chris Katje
Lowe's Companies Inc (NYSE:LOW) is set to report its first-quarter financial results, with analysts expecting lower revenue and earnings per share compared to last year. Key items to watch include foot traffic, seasonal demand, and a new partnership with DoorDash (NASDAQ:DASH). Lowe's stock performance is currently trailing Home Depot (NYSE:HD) over the past year.
May 20, 2024 | 5:08 pm
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NEGATIVE IMPACT
Home Depot's recent Q1 results showed a decline in revenue and foot traffic, which could indicate similar trends for Lowe's.
Home Depot's Q1 results showed a decline in revenue and foot traffic, which could suggest similar challenges for Lowe's. This could negatively impact Home Depot's stock in the short term.
CONFIDENCE 70
IMPORTANCE 70
RELEVANCE 50
NEUTRAL IMPACT
Lowe's is expected to report lower revenue and earnings per share for Q1 compared to last year. Key items to watch include foot traffic, seasonal demand, and a new partnership with DoorDash.
Analysts expect Lowe's to report lower revenue and EPS for Q1. Foot traffic is down 4% year-over-year, which could negatively impact results. However, increased demand for seasonal items and a new partnership with DoorDash could provide some upside.
CONFIDENCE 80
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
DoorDash's new partnership with Lowe's to provide delivery from over 1,700 stores could boost its revenue and market presence in the home improvement category.
The new partnership with Lowe's could enhance DoorDash's revenue and market presence in the home improvement category, providing a positive short-term impact on its stock.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 30