Investing.com - Home improvement retailer Lowe’s reported lower-than-expected first quarter earnings as sales declined, it announced early Wednesday.
Earlier in the day, in its first quarter earnings report, Lowe’s said earnings per share came in at USD0.49, compared to expectations for earnings of USD0.51 per share.
The company’s first quarter revenue totaled USD13.09 billion, missing expectations for revenue of USD13.45 billion.
Following the release of the report, LOW shares tumbled 3.5% in pre-market trade.
Meanwhile, the outlook for U.S. equity markets was mildly higher. The Dow Jones Industrial Average futures pointed to a gain of 0.1% at the open, S&P 500 futures added 0.2%, while the Nasdaq 100 futures indicated a gain of 0.2% at the open.
Earlier in the day, in its first quarter earnings report, Lowe’s said earnings per share came in at USD0.49, compared to expectations for earnings of USD0.51 per share.
The company’s first quarter revenue totaled USD13.09 billion, missing expectations for revenue of USD13.45 billion.
Following the release of the report, LOW shares tumbled 3.5% in pre-market trade.
Meanwhile, the outlook for U.S. equity markets was mildly higher. The Dow Jones Industrial Average futures pointed to a gain of 0.1% at the open, S&P 500 futures added 0.2%, while the Nasdaq 100 futures indicated a gain of 0.2% at the open.