Lowe's Shares Drop As Earnings Fall Short Of Estimates
- 3 years ago
On Wednesday, Lowe's reported quarterly same-store sales growth of more than 30%.
Sales for the third quarter were $22.3 billion.
That's compared to $17.4 billion in the same quarter in 2019.
Lowe's said their online sales doubled in the third quarter.
The company's earnings of $1.98 per share were one cent short of estimates from analysts, and its shares fell.
Lowe's net income fell to $692 million, or 91 cents per share, for the quarter ending October 30, 2020.
Sales for the third quarter were $22.3 billion.
That's compared to $17.4 billion in the same quarter in 2019.
Lowe's said their online sales doubled in the third quarter.
The company's earnings of $1.98 per share were one cent short of estimates from analysts, and its shares fell.
Lowe's net income fell to $692 million, or 91 cents per share, for the quarter ending October 30, 2020.