MOORESVILLE, North Carolina — Lowe's Cos. (LOW) on Wednesday reported fiscal second-quarter earnings of $1.13 billion.
On a per-share basis, the Mooresville, North Carolina-based company said it had net income of $1.20.
The results missed Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of $1.23 per share.
The home improvement retailer posted revenue of $17.35 billion in the period, beating Street forecasts. Ten analysts surveyed by Zacks expected $17.31 billion.
Lowe's expects full-year earnings to be $3.29 per share.
Lowe's shares have risen 6 percent since the beginning of the year, while the Standard & Poor's 500 index has increased almost 2 percent. The stock has climbed 45 percent in the last 12 months.
Keywords: Lowe's, Earnings Report, Priority Earnings