Lowe's Shares Hit on Earnings and Revenue That Missed Expectations

Shares of Lowe's (LOW) were trading lower on Wednesday after the home improvement retailer reported earnings and revenue that came in short of analysts' expectations. Lowe's reported earnings of $0.70 a share for the first quarter on revenue that rose to $14.1 billion from $13.4 billion a year ago. Analysts had been expecting earnings of $0.74 cents on revenue of almost $14.3 billion, according to Thomson Reuters. The results are in stark contrast to rival Home Depot (HD), which reported quarterly earnings and revenue that beat estimates on Tuesday. Lowe's chairman, president and CEO Robert Niblock still called the quarter 'strong.' Lowe's maintained its full-year comparable sales growth forecast of 4% to 4.5%.