Lowe's Q2 EPS Beats Expectations, But Slashes FY24 Outlook Amid DIY Sales Slump
Portfolio Pulse from Nabaparna Bhattacharya
Lowe's reported better-than-expected Q2 EPS but missed revenue estimates and lowered its FY24 outlook due to a slump in DIY sales. The company revised its sales and EPS projections downward, citing macroeconomic pressures.
August 20, 2024 | 11:35 am
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Lowe's Q2 EPS exceeded expectations, but revenue fell short. The company lowered its FY24 outlook due to declining DIY sales and macroeconomic pressures, impacting future sales and EPS projections.
Lowe's reported a Q2 EPS that beat expectations, but revenue missed estimates. The company lowered its FY24 outlook, citing a decline in DIY sales and macroeconomic pressures. This suggests potential short-term negative impact on the stock price as investors react to the revised guidance.
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