- Lowe’s reported 2Q19 adjusted EPS of $2.15, up 3.9% and comfortably beating the $2.00 consensus estimate. Revenues were $20.99 billion, up 0.5% and ahead of the $20.93 billion consensus.
- Comps were 2.3%, beating the 1.7% consensus estimate.
- Gross margin contracted to 32.1% in 2Q19, compared to 33.0% in 2Q18.
- The company provided guidance for 2019, predicting revenue growth of around 2%, in line with the 1.7% consensus estimate, comps growth of approximately 3% and adjusted EPS of $5.45-5.65, in line with the consensus of $5.61.
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