Lowe's sticks by full-year earnings forecast despite weakening sales, as spring projects offer a boost

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reported mixed fiscal second-quarter results on Tuesday, as consumers' interest in tackling springtime projects helped offset weakening home improvement demand. The home improvement retailer topped Wall Street's earnings estimates, but fell slightly short of expected sales. Lowe's stuck by its full-year forecast. It anticipates total sales will range between $87 billion and $89 billion for the period. It projects comparable sales will drop by 2% to 4% this fiscal year. It expects adjusted earnings per share will range between $13.20 and $13.60.Here's how the company did for the three-month period that ended Aug. 4 compared with what analysts expected, according to consensus estimates from Refinitiv:Lowe's net income for the three-month period was $2.

Shares of Lowe's closed on Monday at $217.59, bringing the company's market value to $127.5 billion. So far this year, Lowe's stock is up more than 9%. That's less than the approximately 14% gains of the S&P 500.

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