Lowe's (LOW) Reports Q1 Earnings: What Key Metrics Have to Say

Lowe's (LOW) reported $22.35 billion in revenue for the quarter ended April 2023, representing a year-over-year decline of 5.6%. EPS of $3.67 for the same period compares to $3.51 a year ago.

The reported revenue represents a surprise of +3.64% over the Zacks Consensus Estimate of $21.56 billion. With the consensus EPS estimate being $3.48, the EPS surprise was +5.46%.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.

Here is how Lowe's performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

• Comparable store sales - YoY change: -4.3% compared to the -2.51% average estimate based on 12 analysts.

• Number of stores - Total: 1738 compared to the 1785.2 average estimate based on five analysts.

• Sales floor square footage - Total: 195 million versus the four-analyst average estimate of 197.7 million.

View all Key Company Metrics for Lowe's here>>>

Shares of Lowe's have returned +0.6% over the past month versus the Zacks S&P 500 composite's +1.5% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

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