Why Lowe's Stock Is Trading Higher Today
Lowe's Companies Inc (NYSE: LOW) is trading higher Wednesday after the company announced better-than-expected second-quarter financial results and issued guidance above estimates.
Lowe's reported quarterly earnings of $4.25 per share, which beat the estimate of $4 per share. The company reported quarterly revenue of $27.6 billion, which beat the estimate of $26.79 billion.
Lowe's said it expects full-year 2021 revenue of approximately $92 billion versus the estimate of $91.53 billion.
"In the quarter, we drove 21% growth in Pro, 10% growth in Installation Services and strong comps across Décor product categories. On Lowes.com, sales grew 7% on top of 135% growth last year. We also delivered significant operating margin expansion through our disciplined focus on driving productivity across the company," said Marvin Ellison, chairman, president and CEO of Lowe's.
Price Action: Lowe's has traded as high as $215.22 and as low as $146.71 over a 52-week period.
At last check Wednesday, the stock was up 4.72% at $190.86.
See also: BEST HOME BUILDER STOCKS
Photo: courtesy of Lowe's.
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