Lowe’s Stock Falls After Earnings. It’s ‘Too Early to Call an Inflection Point.’
Lowe’s stock was falling Tuesday as the company’s quarterly earnings report failed to reassure investors that the home-improvement market is headed back to normal after years of weak demand. Lowe’s raised its outlook for 2024 earnings per share to a range of $11.80 to $11.90, up from $11.70 to $11.90. Recovery efforts in the aftermath of hurricanes Helene and Milton helped drive up the company’s quarterly sales numbers, although Chairman, President, and CEO Marvin R. Ellison said in Tuesday’s earnings release that the results were “modestly better-than-expected, even excluding storm-related activity.”