Analysts expect the Mooresville, NC-based company to deliver Q3 earnings per share of $0.97, on 6% higher revenues of $15.9 billion. Wall Street is also looking for full-year 2016 EPS of $4.03, on 10% revenue growth to to $64.9 billion.
During its last earnings report in August, Lowe’s provided full-year guidance of $4.06 per share, down from a prior outlook of $4.11. Investors will definitely be looking for that forecast to improve this time around, and also will want to see a strong outlook for 2017.
Lowe’s is also expecting 2016 full-year comparable sales to rise 4%.
LOW, like its chief competitor Home Depot (NYSE:HD), faces numerous headwinds, including a weak global economic climate as well as inclement weather in Q3 that disrupted construction plans in certain areas of the country.
This morning, Home Depot posted better than expected results and boosted its outlook, which likely bodes well for Lowe’s latest results. However, if the company doesn’t live up to expectations, shares could take a major hit tomorrow.
Stay tuned tomorrow morning, when we’ll bring investors full coverage of LOW’s latest earnings.
Lowe’s shares were unchanged in premarket trading Tuesday at $70.01. Year-to-date, LOW has fallen 7.93%, versus a 6.24% gain in the benchmark S&P 500 index during the same period.