Q118 miss, but FY guidance reiterated
LOW reported a top and bottom line miss, with the +0.6% comp notably below the +3.2% consensus. In this context, HD's +4.2% comp looks robust. Similar to HD, the release noted that a delayed spring selling season impacted outdoor categories, but that May sales after q-end were "strong". Operating margins declined 81bps YoY and were ~20bps below consensus. EPS consequently missed expectations by $0.02, despite a $0.02 tax benefit. FY18 comp and EPS guidance was reiterated however. A soft start to the year, perhaps a factor warranting the recently announced leadership changes.Lowe's Companies is a home improvement retailer. The company provides home improvement products in lumber and building materials, appliances, seasonal and outdoor living, tools and hardware, fashion fixtures, rough plumbing and electrical, paint, millwork, lawn and garden, flooring, and kitchens categories. The company provides installation services through independent contractors in product categories, including appliances, flooring, kitchens, lumber and building materials, and millwork. The company also provides extended protection plans for various products within the appliances, kitchens, fashion fixtures, millwork, rough plumbing and electrical, seasonal and outdoor living, and tools and hardware categories.
Formed in 2003 by an established team from Cazenove, one of the most respected investment banks in the UK, Atlantic Equities conducts and publishes fundamental, bottom up research on mid and large cap US companies.
Atlantic provide order execution through a wide range of DMA products and algorithmic trading suites.
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