America’s two favorite home improvement retail stores tell two slightly-different stories for their first quarter earnings.
Beating analyst expectations. Both Lowe’s ( ) and Home Depot ( ) scored 1st-quarter sales that surprised analysts.
- Lowe’s quarterly revenue grew 10.9% from a year ago to $19.68 billion in revenue versus the $18.32 billion analysts predicted.
- Home Depot’s quarterly revenue rose 7.1% from a year ago to $28.26 billion versus the $27.54 billion analysts expected.
Hit or miss? The Q1 reports for either store start to differentiate when it comes to earnings per share, with Lowe’s beating expectations and Home Depot missing.
- Lowe’s hit $1.77 earnings per share compared to the $1.32 predicted.
- On the other hand, Home Depot missed its expectations with $2.08 per share compared to the predicted $2.27.
Home Depot claimed after giving employees wage increases, bonuses, and extra benefits, they were down an extra $640 million after tax, amounting to a $0.60 loss per share.
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