This Major Retailer Just Cut Its Outlook. Is the Stock Worth Buying Anyway?
During its fiscal 2023 first quarter (ended May 5), Lowe's (NYSE: LOW) generated revenue of $22.3 billion (down 6% year over year) and adjusted diluted earnings per share of $3.67 (up 5%). While these results were a bit of a mixed bag, they exceeded Wall Street estimates. And the stock was up following the news.
Zooming out, shares have been a winning investment, as they climbed 115% over the past five years. But investors should be aware of the company's management team cutting its outlook for the current fiscal year. Many retailers, including Lowe's, are faced with an uncertain economic backdrop.
Despite some near-term headwinds, investors might want to consider buying the stock anyway for a long-term-focused portfolio.
Source Fool.com
