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Lowe's stock is lower Tuesday after the retailer's Q2 revenue miss and downwardly revised outlook. Should investors be worried?
It's this week -- today, precisely -- that best represents a typical late-summer stock market environment.
The home improvement market could use some improvement itself. That's the latest from Lowe's Companies Inc. During its second-quarter 2024 earnings call Tuesday (Aug. 20), the company revised its annual forecasts downward, citing a challenging macroeconomic environment dampening consumer spending on home improvement projects.
Lowe's Companies NYSE: LOW stock is in a holding pattern after the Q2 results revealed operational quality offset by a weakened sales outlook. The critical takeaway is that macroeconomic conditions impact sales while operational quality improves.
U.S. stocks traded mixed this morning, with the Dow Jones index falling around 80 points on Tuesday.
CNBC's Melissa Repko reports on the company's quarterly earnings results.
Lowe's (LOW) came out with quarterly earnings of $4.10 per share, beating the Zacks Consensus Estimate of $3.96 per share. This compares to earnings of $4.56 per share a year ago.
Brian Nagel, Oppenheimer senior analyst, joins 'Squawk Box' break down Lowe's quarterly earnings results.
Lowe's beat second-quarter earnings expectations, but missed on sales and cut its full-year outlook. Lowe's cited "lower-than-expected DIY sales and a pressured macroeconomic environment.
Lowe's Companies, Inc. LOW is set to release earnings results for its second quarter, before the opening bell on Tuesday, Aug. 20.