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Can Lowe's Beat Market Expectations This Earnings Season?
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As Lowe's Companies, Inc. (LOW - Free Report) prepares to unveil its fourth-quarter fiscal 2024 earnings on Feb. 26 before the opening bell, investors are eager to see if the company can beat market expectations.
The Zacks Consensus Estimate for the to-be-reported quarter’s revenues is pegged at $18,286 million, which suggests a drop of 1.7% from the prior year’s levels. The consensus mark for quarterly earnings has risen by a penny over the past seven days to $1.83 per share, which indicates an increase of 3.4% from the year-ago quarter’s reported figure.
LOW has a trailing four-quarter earnings surprise of 3.9%, on average. In the last reported quarter, this Mooresville, NC-based company’s bottom line outperformed the Zacks Consensus Estimate by a margin of 2.5%.
Find the latest EPS estimates and surprises on Zacks Earnings Calendar.
Key Factors to Observe for LOW's Q4 Earnings
A primary area of concern for Lowe’s remains the Do-It-Yourself (DIY) home improvement segment. The drop in DIY spending suggests a broader consumer shift, as many prioritize essential expenditures over home improvement projects. Cautious spending behavior has become more apparent, with consumers delaying big-ticket purchases, such as flooring, kitchens and bath products.
In the third quarter of fiscal 2024, comparable sales were down 1.1%, with a notable decline in big-ticket DIY transactions. We expect a year-over-year decrease in comparable sales of 2.1% in the fourth quarter of the current fiscal.
Despite these headwinds, Lowe’s has been proactive in responding to evolving consumer behaviors and market dynamics. The Pro segment remains a significant growth driver for Lowe’s as the company continues to execute its multi-year strategy to improve product offerings, fulfillment options and the overall shopping experience for professional customers. Furthermore, strategic investments in the Total Home strategy, including modernizing the supply chain and IT infrastructure and enhancing merchandising assortments, position the company to navigate the challenges.
Lowe's Companies, Inc. Price, Consensus and EPS Surprise
As investors prepare for Lowe’s fourth-quarter announcement, the question looms regarding earnings beat or miss. Our proven model predicts an earnings beat for Lowe’s this time. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat, which is the case here.
Lowe’s has a Zacks Rank #3 and an Earnings ESP of +1.17%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Other Stocks With the Favorable Combination
Here are three other companies you may want to consider, as our model shows that these also have the right combination of elements to post an earnings beat this season:
Costco Wholesale Corporation (COST - Free Report) currently has an Earnings ESP of +0.14% and a Zacks Rank #2. The Zacks Consensus Estimate for second-quarter fiscal 2025 earnings per share is pegged at $4.09, suggesting 10.2% year-over-year growth. You can see the complete list of today’s Zacks #1 Rank stocks here.
Costco’s top line is expected to ascend year over year. The Zacks Consensus Estimate for quarterly revenues is pegged at $63.2 billion, which indicates an increase of 8.2% from the figure reported in the prior-year quarter. COST has a trailing four-quarter earnings surprise of 2%, on average.
The Home Depot, Inc. (HD - Free Report) currently has an Earnings ESP of +1.29% and a Zacks Rank of 3. The company is likely to register an increase in the bottom line when it reports fourth-quarter fiscal 2024 numbers. The Zacks Consensus Estimate for quarterly earnings per share of $3.04 implies a rise of 7.8% from the year-ago reported number.
Home Depot’s top line is expected to ascend year over year. The Zacks Consensus Estimate for quarterly revenues is pegged at $39.1 billion, which suggests an increase of 12.5% from the prior-year quarter. HD has a trailing four-quarter earnings surprise of 2.3%, on average.
Jack in the Box Inc. (JACK - Free Report) presently has an Earnings ESP of +0.43% and a Zacks Rank of 3. The company is likely to register a top-line decline when it reports first-quarter fiscal 2025 results. The Zacks Consensus Estimate for JACK’s quarterly revenues is pegged at $470.4 million, which indicates a dip of 3.5% from the figure reported in the prior-year quarter.
The consensus estimate for Jack in the Box’s quarterly earnings has declined by 4 cents over the past 30 days to $1.71 per share. The figure indicates a decrease of 12.3% from the year-ago quarter’s number. JACK delivered an average earnings surprise of 4.2% in the trailing four quarters.
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Can Lowe's Beat Market Expectations This Earnings Season?
As Lowe's Companies, Inc. (LOW - Free Report) prepares to unveil its fourth-quarter fiscal 2024 earnings on Feb. 26 before the opening bell, investors are eager to see if the company can beat market expectations.
The Zacks Consensus Estimate for the to-be-reported quarter’s revenues is pegged at $18,286 million, which suggests a drop of 1.7% from the prior year’s levels. The consensus mark for quarterly earnings has risen by a penny over the past seven days to $1.83 per share, which indicates an increase of 3.4% from the year-ago quarter’s reported figure.
LOW has a trailing four-quarter earnings surprise of 3.9%, on average. In the last reported quarter, this Mooresville, NC-based company’s bottom line outperformed the Zacks Consensus Estimate by a margin of 2.5%.
Find the latest EPS estimates and surprises on Zacks Earnings Calendar.
Key Factors to Observe for LOW's Q4 Earnings
A primary area of concern for Lowe’s remains the Do-It-Yourself (DIY) home improvement segment. The drop in DIY spending suggests a broader consumer shift, as many prioritize essential expenditures over home improvement projects. Cautious spending behavior has become more apparent, with consumers delaying big-ticket purchases, such as flooring, kitchens and bath products.
In the third quarter of fiscal 2024, comparable sales were down 1.1%, with a notable decline in big-ticket DIY transactions. We expect a year-over-year decrease in comparable sales of 2.1% in the fourth quarter of the current fiscal.
Despite these headwinds, Lowe’s has been proactive in responding to evolving consumer behaviors and market dynamics. The Pro segment remains a significant growth driver for Lowe’s as the company continues to execute its multi-year strategy to improve product offerings, fulfillment options and the overall shopping experience for professional customers. Furthermore, strategic investments in the Total Home strategy, including modernizing the supply chain and IT infrastructure and enhancing merchandising assortments, position the company to navigate the challenges.
Lowe's Companies, Inc. Price, Consensus and EPS Surprise
Lowe's Companies, Inc. price-consensus-eps-surprise-chart | Lowe's Companies, Inc. Quote
What the Zacks Model Says About LOW
As investors prepare for Lowe’s fourth-quarter announcement, the question looms regarding earnings beat or miss. Our proven model predicts an earnings beat for Lowe’s this time. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat, which is the case here.
Lowe’s has a Zacks Rank #3 and an Earnings ESP of +1.17%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Other Stocks With the Favorable Combination
Here are three other companies you may want to consider, as our model shows that these also have the right combination of elements to post an earnings beat this season:
Costco Wholesale Corporation (COST - Free Report) currently has an Earnings ESP of +0.14% and a Zacks Rank #2. The Zacks Consensus Estimate for second-quarter fiscal 2025 earnings per share is pegged at $4.09, suggesting 10.2% year-over-year growth. You can see the complete list of today’s Zacks #1 Rank stocks here.
Costco’s top line is expected to ascend year over year. The Zacks Consensus Estimate for quarterly revenues is pegged at $63.2 billion, which indicates an increase of 8.2% from the figure reported in the prior-year quarter. COST has a trailing four-quarter earnings surprise of 2%, on average.
The Home Depot, Inc. (HD - Free Report) currently has an Earnings ESP of +1.29% and a Zacks Rank of 3. The company is likely to register an increase in the bottom line when it reports fourth-quarter fiscal 2024 numbers. The Zacks Consensus Estimate for quarterly earnings per share of $3.04 implies a rise of 7.8% from the year-ago reported number.
Home Depot’s top line is expected to ascend year over year. The Zacks Consensus Estimate for quarterly revenues is pegged at $39.1 billion, which suggests an increase of 12.5% from the prior-year quarter. HD has a trailing four-quarter earnings surprise of 2.3%, on average.
Jack in the Box Inc. (JACK - Free Report) presently has an Earnings ESP of +0.43% and a Zacks Rank of 3. The company is likely to register a top-line decline when it reports first-quarter fiscal 2025 results. The Zacks Consensus Estimate for JACK’s quarterly revenues is pegged at $470.4 million, which indicates a dip of 3.5% from the figure reported in the prior-year quarter.
The consensus estimate for Jack in the Box’s quarterly earnings has declined by 4 cents over the past 30 days to $1.71 per share. The figure indicates a decrease of 12.3% from the year-ago quarter’s number. JACK delivered an average earnings surprise of 4.2% in the trailing four quarters.