Lowe’s (NYSE: LOW) Fiscal 4Q18 Results: Mixed Results and In-Line Guidance, Yet Many Opportunities for Improvement in 2019

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Key Points

  • Lowe’s reported adjusted fiscal 4Q18 EPS of $0.80, up 8.1% year over year and beating the consensus estimate by a penny. Revenues were $15.65 billion, up 1.0% but below the $15.75 consensus estimate.
  • Comps were 1.7%, below the 2.1% consensus estimate. US home-improvement comps increased 2.4%. Online comps increased 11%.
  • For FY19, the company guided for 2% sales growth (slightly above the 1.8% consensus estimate), 3% comps growth and EPS of $6.00-$6.10, in line with the $6.04 consensus estimate.

Lowe’s reported mixed Q4 results and 2019 guidance was higher on revenues, in line on EPS. Q4 EPS was $0.80, beating consensus by a penny. Comps were +1.7% below +2.1% consensus. Revenues were slightly light. 2010 revenue guidance was +2%, ahead of +1.8% consensus, comp guidance was +3%, ahead of +2.9% consensus, EPS guidance of $6.00-$6.10 was in line.

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