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. This report is for paying subscribers only. Already a paying subscriber? Please log in to see the entire report.If you wish to learn more about our subscription plans and become a paying subscriber, click here. This document was generated for Other research you may be interested in: Weinswig’s Weekly: Pioneer the Future of Retail at NextGen Commerce, a Coresight Research AI ConferenceFebruary 2023 UK Retail Sales: Total Sales Post Strongest Growth in a YearGenerative AI Latest: New Funding, Infrastructure and Applications, Plus Google’s Recent Product Launches and Tech PartnershipsUS Store Tracker Extra, May 2024: rue21 To Close 2.7 Million Square Feet of Retail Space