Why Lowe's (LOW) Shares Are Gaining Today - Lowe's Companies (NYSE:LOW)

Lowe's Companies Inc LOW reported a second-quarter FY22 sales decline of 0.34% year-on-year to $27.48 billion, missing the consensus of $28.14 billion.
Comparable sales decreased 0.3%, while comparable sales for the U.S. home improvement business rose 0.2%.
DIY sales were impacted by the shortened spring and lower demand in certain discretionary categories.
EPS of $4.67 beat the analyst consensus of $4.62.
Gross profit fell 1.9% Y/Y to $9.1 billion, with a profit margin contracting 54 basis points to 33.24%.
The operating margin expanded 12 basis points to 15.39%, and operating income for the quarter rose 0.5% to $4.2 billion.
The company held $1.9 billion in cash and equivalents as of July 29, 2022. Net cash provided by operating activities for the six months totaled $6 billion.
Outlook: Lowe's now expects FY22 total and comparable sales toward the bottom end of its outlook range and expects operating income and EPS toward the top end of its outlook range.
LOW's FY22 sales outlook ranges at $97 billion - $99 billion versus the consensus of $97.54 billion.
FY22 EPS forecast ranges at $13.10 - $13.60, against the consensus of $13.39.
Price Action: LOW shares are trading higher by 3.21% at $221.00 in premarket on the last check Wednesday.
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Lowe's Q2 Highlights: Flat Sales, Bottom-Line Beat, Sluggish DIY Trends & More