Insight Report 4 minutes PremiumLowe’s (LOW) 2Q 2016 RESULTS: EARNINGS MISS, FULL YEAR GUIDANCE CUT Coresight Research August 18, 2016 Executive Summary Lowe’s reported EPS was $1.31 for 2Q 2016, up 9.2% but below the consensus of $1.42. Revenues were $18.3 billion, up 5.3% year over year and below the consensus. The foreign currency hedge in advance of the RONA acquisition decreased pre-tax earnings by $84 million and EPS by $0.06. Overall comps were +2.0% and +1.9% for US stores, down from a 7.3% increase in 1Q 2016 and missed the consensus of 4.2%. Comps were aided by an increased demand for seasonal items and strength in indoor project demand. The company maintained comps +4.0% for 2016 and lowered its EPS guidance from $4.11 to $4.06 to reflect its acquisition of Canadian retail company, Rona, which was completed in May. The consensus calls for EPS of $4.06 for 2016. Already a subscriber? Log in You are currently viewing a preview of this report. Please select an access option to view the full report. Hide Options - Show Options + Get unlimited access to all our research with one of our subscription plans. View Subscription Plans or Contact us to purchase this report. Contact us ✕ This document was generated for Other research you may be interested in: Market Outlook: US Food Away from Home—A Challenging Economic Backdrop To Weigh on Growth in 2023AI Models: Risky Business—Navigating the Challenges of Using AIWeekly US and UK Store Openings and Closures Tracker 2024, Week 33: LL Flooring To Shutter Nearly 100 Stores Following Bankruptcy FilingAI Council Summit—Event Insights: Exploring the Transformative Impact of AI