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00:02Lowe's beat Wall Street estimates on earnings and revenue in its latest quarter
00:06and maintained its full-year guidance, according to CNBC.
00:10The home improvement retailer reported adjusted earnings of $3.03 per share
00:15and revenue of $23.08 billion,
00:20topping expectations of $2.97 and $22.97 billion, respectively.
00:25Net income came in at $1.63 billion, or $2.90 per share,
00:32roughly flat with the year-ago period.
00:35Revenue rose about 10% year-over-year.
00:37Comparable sales grew 0.6%, driven by spring execution,
00:42a 15.5% jump in online sales and strength in appliances,
00:47home services, and sales to contractors.
00:49The company reaffirmed its full-year outlook,
00:52projecting total sales of $92 billion to $94 billion
00:57and adjusted earnings per share of $12.25 to $12.75.
01:02Comparable sales are expected to be flat to up 2%.
01:05Shares fell slightly in pre-market trading.
01:08For all things money, visit Benzinga.com.
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