Lowe's Q4 Results Surpass Estimates
NORTH WILKESBORO (dpa-AFX) - Home improvement retailer Lowe's Companies, Inc. (LOW) reported fourth-quarter earnings of $978 million or $1.32 per share compared with $509 million or $0.66 per share in the same quarter a year ago.
Excluding items, earnings on an adjusted basis were $1.33 per share, that beat the average estimate of analysts polled by Thomson Reuters at $1.21 per share.
Sales for the quarter increased to $20.3 billion from $16.0 billion in the comparable quarter last year. The consensus estimate stood at $19.48 billion.
Consistent with expectations provided at the Investor Update on December 9, 2020, Lowe's is planning for $9 billion in share repurchases and $2 billion in capital expenditures in 2021.