Lowe's Raises Outlook as Profit Jumps on Pro and DIY Demand
1. Lowe's exceeded profit forecasts with a $4.33 EPS, above $4.24 estimates. 2. Revenue rose by 1.6% year-over-year to $23.96 billion, slightly below projections. 3. Company raised sales guidance to $84.5-$85.5 billion post Artisan Design Group acquisition. 4. Lowe's announced $8.8 billion acquisition of Foundation Building Materials to boost sales. 5. Shares of Lowe’s have increased approximately 5% this year.