Lowe's delivered second-quarter earnings that topped Wall Street's expectations, but the retailer trimmed its outlook for full-year sales growth.
Lowe's shares sank in premarket trading following the report. (Click here to get the latest quotes.)
The home improvement giant posted quarterly earnings of $1.04 per share, versus 88 cents per share in the comparable year-ago period. It posted revenue of $16.6 billion, compared to $15.71 billion a year ago.
Analysts had expected Lowe's to report earnings per share of $1.02 per share on $16.55 billion in revenue, according to a consensus estimate from Thomson Reuters.