.August 20, 2024 10:22 AM

Lowe’s (NYSE:LOW) exceeded profit expectations in its second-quarter earnings report, with adjusted earnings per share of $4.10 compared to Wall Street’s estimate of $3.96. However, revenue fell to $23.59 billion, missing the consensus target of $23.93 billion and dropping from $25.0 billion a year ago. Comparable sales declined 5.1% due to reduced discretionary spending and adverse weather, but the Pro and online segments showed positive results. In response to economic challenges, Lowe’s revised its full-year forecast, expecting sales of $82.7 to $83.2 billion and adjusted earnings per share of $11.70 to $11.90, below analysts’ estimates of $12.14 EPS and $84.16 billion revenue.