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Home Improvement Retailer Lowe's $LOW like it's brethren Home Depot $HD was able to take advantage of last quarter's natural disasters, with a 6.% increase in sales to revenue of $16.8 billion.

 Lowes

Earnings:EPS of $1.05 per share, up from 43 cents per share over the same period last year and beating  consensus of $1.02. Sales rose 6.5% to $16.8 billion with a 5.1% increased in comparable home improvement division revenues and a 5.7% increase in overall comparable sales. Lowe's said Hurricanes Irma and Harvey spending was around $200 million.

Reaction Lowe's Companies, Inc. NYSE: $LOW Nov 21 Open $81.14 -0.31 (-0.38%)

The fiscal third quarter saw numerous natural disasters, including hurricanes, Harvey and Irma. There were also wildfires in the West, and earthquakes in Mexico.

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Comparison  Home Depot $HD Earnings Booms From Hurricane Demand

Outlook

$LOW sees full year sales rising 5% and same-store sales advancing 3.5%. That would likely take full-year earnings per share in the $4.20 to $4.30 range, shy of the Street forecast of around $4.50 but essentially in-line with estimates when special items are backed out. Lowe's expects to add 25 home improvement and hardware stores over the final quarter. 

"During the third quarter, we drove traffic in-store and online with compelling messaging and integrated customer experiences. We continue to invest in omni-channel capabilities to enhance value for customers and shareholders. I am also pleased with the progress we've made to enhance our product and service offering for the Pro customer, delivering another quarter of comparable sales above the company average." said CEO Robert Niblock

Souece: LOW, AlphaStreet

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