Why Lowe's Stock Popped Today
Shares of Lowe's (NYSE: LOW) were up 4.9% as of 11:15 a.m. EST Wednesday after the home-improvement retailer announced better-than-expected third-quarter 2019 results.
More specifically, Lowe's quarterly sales fell slightly from the same year-ago period, to $17.39 billion -- technically below the $17.68 billion most analysts were anticipating -- including a 2.2% increase in comparable-store sales. But that also translated to adjusted (non-GAAP) earnings of $1.41 per share, up a whopping 35.6% from $1.04 per share a year ago. Analysts, on average, were modeling earnings of $1.35 per share.
IMAGE SOURCE: LOWE'S.
Source Fool.com
