Lowe's Q4 Results Surpass Analyst Estimates, Comps Up Almost 30%
The consumer focus on home improvement and housewares continued strong into the fourth quarter of 2020, as today's earnings report by hardware chain Lowe's (NYSE: LOW) highlights. The company reported comparable sales, earnings, and revenue metrics that outdid Wall Street expectations, confirming the positive indicators seen over the past few weeks, including its recent initiative to hire 50,000 new workers.
As reported by Lowe's, net sales jumped from $16 billion in Q4 2019 to $20.3 billion in 2020, soaring 26.7% and delivering a 4.1% positive surprise according to Zacks Equity Research data. Adjusted diluted earnings per share (EPS) of $1.33 beat 2019's $0.94 by 41.5% and was a 9% positive surprise.
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Source Fool.com
