Lowe’s, which named a new CEO this week, is reporting weak profit and revenue numbers for its first quarter.
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The Mooresville, North Carolina, company said Wednesday that profits were $988 million, or $1.19 per share.
That’s 3 cents shy of Wall Street expectations, according to a survey by Zacks Investment Research.
Revenue of $17.36 billion also missed the mark.
Lowe’s expects full-year earnings to be $5.40 to $5.50 per share.
Shares of Lowe’s Cos., which have fallen 8 percent this year, are down more than 4 percent before the opening bell.
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This story was generated by Automated Insights using data from Zacks Investment Research. Access a Zacks stock report on LOW at https://www.zacks.com/ap/LOW
