Lowe's Q2 earnings had a Non-GAAP EPS of $4.10, beating expectations by $0.10, but the company's revenue of $23.59B missed by $370M. Same-store sales dropped 5.1%, more than expected, due to pressure on big-ticket projects.
Lowe's lowered its 2024 outlook, expecting a 3.5%-4% drop in same-store sales. Despite the challenges, Lowe's is investing in technology and innovation, and is prepared to take advantage of the recovery in the DIY market.
Premier also reported positive Q4 earnings, with Non-GAAP EPS of $0.69 beating expectations by $0.20, and revenue of $350.27M beating by $37.06M. Macy's is set to report Q2 earnings, with expectations of $0.30 EPS and $5.05B in revenue.
Kingsoft Cloud and Medtronic also reported better-than-expected earnings, with Kingsoft Cloud reporting revenue of $260.32M, beating by $4.72M, and Medtronic reporting revenue of $8B, beating by $100M.
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