- Lowe's (LOW +2.7%) is higher after updating guidance as part of its analyst day event and approving new buybacks.
- Execs say the presentations later today will highlight the company's strategies to engage customers, drive merchandising excellence and deliver a seamless, omni-channel experience while maximizing operational efficiency.
- "We anticipate that targeted initiatives designed to drive profitable sales, combined with an expense reduction culture, will allow us to generate significant cash flow from operations over the next three years," notes CFO David Denton.
- Capital allocation: The company says the board authorized a new $10B share buyback program with no expiration date. The new programs adds to the previous program's balance of $4.5B as of November 2.
- FY18 guidance: Total sales are expected to increase ~4%; comparable sales are expected to increase ~2.5%; the company expects to add about 8 home improvement stores; EPS of $5.08 to $5.13 is anticipated.
- FY19 guidance: Total sales are expected to increase ~2%, comparable sales are expected to increase ~3%; EPS of $6.00 to $6.10 is expected vs. $5.90 consensus.
- Source: Press Release
- Now read: Lowe's Is Still Too Pricey, Especially Compared To Its Counterpart Home Depot (NYSE:HD)
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